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2016

May 19, 2016 — FASB Proposes Technical Corrections and Improvements to New Revenue Standard

FASB Proposes Technical Corrections and Improvements to New Revenue Standard

Accounting Journal Entry
May 19, 2016 — Yesterday, the FASB issued a proposed ASU1 that would amend certain aspects of the Board’s May 2014 revenue standard, ASU 2014-09.2 The amendments are being proposed in response to feedback received from several sources, including the TRG3 for revenue recognition, and would clarify, rather than change, the new revenue standard’s core revenue recognition principles.

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