Please refer to the current technical plan for

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Unformatted text preview: er 21, 2012. Please refer to the Current Technical Plan for information about the expected release dates of exposure documents and final standards. (Updated sections are indicated with an asterisk *) This project update summarizes the project activities and decisions of the FASB and IASB (the Boards). It was prepared by the staff and is for the information and convenience of the Boards’ constituents. All decisions of the Boards are tentative, may change at future Board meetings, and do not change current accounting and reporting requirements. Decisions of the Boards become final only after extensive due process. Adjustments to Sales Due Process Documents Project Objective and Summary of the Proposed Model Outreach/Field Work for... • Accounting *Decisions Reached at the Last Meeting - of Decisions Reached to Date Impact GROSS *SummaryTrade discounts *Next Steps *Board/Other Public Meeting Dates Related FASB Documents Background Information *Contact Information - Sales discounts - Sales returns DUE PROCESS DOCUMENTS - Sales allowances sales Impact NET sales On November 14, 2011, the Boards published, for public comment, an Exposure Draft, Revenue from Contracts with Customers. The Exposure Draft was open for public comment until March 13, 2012. On January 4, 2012, the Board published, for public comment, an Exposure Draft, Revenue from Contracts with Customers—Proposed Amendments to the FASB Accounting Standards...
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This document was uploaded on 02/17/2014 for the course ACCTG 215 at University of Washington.

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