EITF Discusses Two Issues at November Meeting

At its meeting yesterday, the EITF discussed (1) the interaction between ASC 321 and ASC 323 and (2) contract modifications of licenses of intellectual property.

Specifically, the EITF discussed the following Issues:

• Issue 19-A, “Financial Instruments — Clarifying the Interaction Between Topic 321 and Topic 323.”
• Issue 19-B, “Revenue Recognition — Contract Modifications of Licenses of Intellectual Property.”

For a detailed summary of the meeting, see Deloitte’s November EITF Snapshot and the meeting recap on the FASB's Web site.