Flores 120413 Re-exposed Revenue From Contracts With Customers.pdf

Flores_120413_Re-exposed_Revenue_from_Contracts_with_Customers194201254819.pdf
Preview of Flores 120413 Re-exposed Revenue from Contracts with Customers.pdf
🔗 Source: accountancyeurope.eu
📊 Size: 79 KB
👤 Author: Iryna
⬇️ Downloads: 124

Summary

FEE comments on EFRAG's Draft Comment Letter on the revised IASB Exposure Draft Revenue from Contracts with Customers. FEE welcomes the decision to re-expose the revenue proposals and commends the progress made in addressing concerns. However, FEE still believes the final objective of developing a single standard has not been fully achieved, and the revised ED requires further clarifications. FEE supports the proposal for additional requirements to determine when performance obligation is satisfied over time but thinks the 'right to payment' criterion is too legalistic. FEE disagrees with the proposal to perform the onerous test at the performance obligation level and suggests disclosing the effect of credit risk as a separate item, subject to materiality consideration. FEE agrees with EFRAG on various points, including the importance of revenue in financial statements and the need for clarification on scope.

Description

FEE comments on EFRAG's Draft Comment Letter on the revised IASB Exposure Draft Revenue from Contracts with Customers.

Technical Information

  • File Format: PDF
  • File Size: 79 KB
  • Pages: 11
  • Language: EN
  • Author: Iryna
  • Total Downloads: 124
  • Last Updated: 1 month ago

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