The European Financial Reporting Advisory
Group (EFRAG) will publish feedback on revenue recognition and
leases for new IFRSs, following consultation with European

In general participants questioned whether a
complete overhaul of the existing standards on the revenue
recognition was necessary, and some suggested that the direction
taken by the International Accounting Standards Board in the
re-deliberations would bring the proposals close to the current
requirements, EFRAG said.

Participants were consulted in outreach events
organised by European national standard setters last month in eight
European cities. The events focused only on those issues that
had caused major concerns at the exposure draft stage and had been
subsequently re-deliberated. 

Feedback received from constituents during the
outreach meetings will be published in the form of meeting notes on
each event on EFRAG’s website and on the website of the respective
national standard setter.

Related links:

European Financial Reporting Advisory Group summary report

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.