In addition, 71% of survey participants agreed that the boards' proposed definition of a performance obligation would help entities to identify the deliverables in (or components of) a contract more consistently.
But were their responses well-informed? Only 8% said they had a detailed understanding of the discussion paper, while 48% said either that they had taken a cursory look or had no prior knowledge of it before taking the survey.
Reader CommentsDisplaying 2 of 2
David Newman
Jul 6, 2009 6:09 PM ET
Good Article
The crux of this article should be seen by reading between the lines. That is, the importance of debate then … more
Wael Bibi
Jul 3, 2009 2:25 PM ET
No
There is no such thing as one size fits all in accounting ,specially when it comes to revenue recognition.There must be … more
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