Revenue recognition: back to principles, but which ones?

In this two minute video, my colleagues Peter Hogarth and Katie Woods highlight some of the things to look out for in the IASB's discussion paper on revenue recognition, which is due out within the next few weeks. As we mentioned in August last year, this one could be important for you. When changes are made to revenue recognition policies, it often leads to the market amending its conclusions about share values.

The standard setters have gone right back to the drawing board on this one to come up with first principles. But there are a couple of different options being considered, so they really need to know what you think. You can share your views with me too, either by commenting here, or by email.

To play the clip, click on the arrow in the picture.

Comments

[Mushtaq Husain]

A trust was booking rental revenue on cash receipt basis. A good amount of rent has remained not collected in the last 10 years. Now the trust is deciding to book the rent that is outstanding for past 10 years as revenue in the current year. Please guide us how to book revenue in the current year.