FASB Discusses Recognition and Measurement of Revenue Contracts With Customers Under ASC 805
October 7, 2021
At its October 6, 2021, meeting, the FASB addressed a “sweep issue that was identified during the
drafting of final Accounting Standards Update, Business Combinations.”
Specifically, the Board decided to “remove the practical expedient related to
completed contracts with remaining variable consideration from the final
Update.”