Boards seek input on standards for corporate recognition of revenue

01/7/2009 | CFO.com

The Financial Accounting Standards Board and the International Accounting Standards Board have begun a six-month review period seeking comments on possible changes to accounting standards for corporate recognition of revenue from the sale of products and services. The two boards are trying to streamline the standards; the FASB offers great detail in its revenue-recognition rules while the IASB standards are not as precise.

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