Power and Utilities alert: 2011-07

December 2011
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Power and Utilities alert: 2011-07

At a glance

The updated FASB/IASB exposure draft will replace substantially all of the existing revenue guidance in GAAP. The proposed guidance may accelerate income or loss recognition on long-term contracts for power and utilities companies.

This Power and Utilities Alert highlights key issues and considerations in addressing the potential accounting implications for the Revenue from Contracts with Customers exposure draft, including areas that are consistent with the Boards' original proposal but require additional focus as the potential issuance date moves closer.