New on the Horizon: Revenue Recognition for Telecoms
By KPMG IFRG Limited | July 22, 2010
From KPMG
This publication by KPMG IFRG Limited discusses the International Financial Accounting Standards Board (IASB) and the U.S. Financial Accounting Standards Board (FASB) proposed model for revenue recognition and its potential impact on telecoms.
The exposure draft (ED), ED/2010/6, Revenue from Contracts with Customers, provides a single, principles-based revenue recognition standard for use across various industries and capital markets. The proposals in the ED would apply to only one category of revenue: revenue from contracts with customers.
The overall focus on the systematic identification and pricing of performance obligations is likely to feel familiar to most telecoms. However, the proposed guidance on identifying and pricing separate performance obligations is more detailed and prescriptive, which will result in differences from current practices.
Read Revenue Recognition under ED/2010/6 for TelecomsUpcoming Webcast
Revised Revenue Recognition Exposure Draft - Application Issues
Financial Reporting Network
Feb. 08, 2012 | 1:00pm ET
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