IASB and FASB to Host a Series of Outreach Meetings on Revised Revenue Recognition Proposals
The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) will host a series of outreach meetings in March, April and May 2012 on their revised joint proposals for the recognition of revenue that were published in November 2011.
The meetings form an important part of the boards’ programme of outreach activities on this second set of the revenue recognition proposals and they reflect the importance of revenue to all companies. To date, the boards have already hosted a number of workshops, webcasts and conferences on the topic and have held a number of meetings with auditors, preparers, regulators and users.
The round-table meetings will be held in public and will provide an opportunity for those that have submitted a comment letter, or who still intend to submit a comment letter, to discuss the proposals with the boards in further detail.
The meetings will take place in London (UK), Norwalk (US) and Tokyo (Japan) in April; an additional round-table meeting will take place for US private entities in May 2012.
In addition, the IASB will host further outreach meetings during the week commencing 26 March 2012 in Sao Paulo (Brazil) and Kuala Lumpur (Malaysia). Details of those events will be announced on the IASB’s website in the coming weeks.