Corporate

New revenue standard: Scratch in the jewel of the crown of convergence?

The chairman of the IASB, Hans Hoogervorst, has repeatedly said that the new revenue recognition standard released on 28 May 2014, is the “jewel in the crown of convergence”. Less than a year after publishing their joint standard on revenue recognition, the IASB and the FASB are back in standard-setting mode.
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