Revised Revenue Recognition Exposure Draft – What Does It Mean for You?

Wednesday, Jan. 25, 2012 | Duration: 60 minutes

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Revised Revenue Recognition Exposure Draft:
What Does It Mean For You
A two-page handout highlighting some of the key changes of the Revised Exposure Draft.

The FASB and IASB recently issued a revised exposure draft on revenue recognition after almost a year of redeliberations, with significant changes to the guidance originally proposed.

In addition to covering the revised proposal's major provisions, the webcast addressed the approach required to comply with the core principle of the revised proposal including:

  • Identify the contract with a customer
  • Identify the separate performance obligations in the contract
  • Determine the transaction price
  • Allocate the transaction price to the separate performance obligations
  • Recognize revenue when (or as) each performance obligation is satisfied

Featured McGladrey speakers:

  • Rick Day, Partner, National Director of Accounting
  • Brian Marshall, Partner, National Accounting Standards Group
  • Richard Stuart, Partner, National Accounting Standards Group