Making sense of a complex world: Revenue recognition in contracts with customers

Making sense of a complex world: Revenue recognition in contracts with customers
Download Download Making sense of a complex world: Revenue recognition in contracts with customers (139kb)
The discussion paper covers many aspects of revenue recognition. The overall objective is to develop a single revenue model using recognition and measurement principles that can be appliedto all transactions. The discussion paper takes a balance sheet view of revenue and proposesthat it represents either an increase in a net contract asset or a reduction in a net contract liability.