IASB Will Consider Delaying Effective Date of Revenue Recognition Standard

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April 22 — The staff of the International Accounting Standards Board has recommended that the board postpone for one year the effective date of its standard on revenue recognition it issued jointly with the Financial Accounting Standards Board in 2014 (10 APPR 525, 6/6/14).

Concerns have emerged about International Financial Reporting Standard 15: Revenue from Contracts with Customers, according to a staff paper posted on the IASB web site on April 21.