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A New Model for Revenue Recognition

Sponsored By AFS Financial Solutions

Topics:: Accounting > Accounting Standards , Revenue Management; Finance & Risk Management > Expense Management

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Abstract:: A NEW APPROACH TO REVENUE RECOGNITION

Fundamental changes may be in store for US accounting standards, the adoption of IFRS chief among them. There is an enormous philosophical divide between US GAAP and IFRS when it comes to revenue recognition. US GAAP is rules-based and offers thousands of pages of guidance and examples. IFRS on the other hand is principles based and offers only general guidance. The proposed merger of the two calls for a reinvention.

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Released: January 21, 2011

Length: 15 pages

Format: PDF (132 kb)

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