{"id":258,"date":"2014-10-22T14:37:10","date_gmt":"2014-10-22T14:37:10","guid":{"rendered":"https:\/\/seci.wpenginepowered.com\/?p=258"},"modified":"2014-10-22T21:09:58","modified_gmt":"2014-10-22T21:09:58","slug":"the-trg-rides-again-more-revenue-recognition-issues-to-discuss","status":"publish","type":"post","link":"https:\/\/seciblog.pli.edu\/index.php\/the-trg-rides-again-more-revenue-recognition-issues-to-discuss\/","title":{"rendered":"The TRG Rides Again! (More Revenue Recognition Issues to Discuss)"},"content":{"rendered":"<p>The IASB\/FASB Transition Resource Group for Revenue Recognition is going to meet again on October 31, 2014. (Seems like a fitting day for this meeting!) In case you have not followed the TRG, this group will not issue guidance. Their mission is to identify issues, discuss them, and share their thoughts on each issue. The FASB and IASB will then decide what action, if any, will be taken on each issue.<\/p>\n<p>The agenda for the meeting includes:<\/p>\n<ul>\n<li>Customer options for additional goods and services and nonrefundable upfront fees<\/li>\n<li>Presentation of a contract as a contract asset or a contract liability<\/li>\n<li>Determining the nature of a license of intellectual property<\/li>\n<li>Distinct in the context of the contract<\/li>\n<li>Contract enforceability and termination clauses<\/li>\n<\/ul>\n<p>As you may know the new standard requires a significant amount of judgment (as well as disclosure of significant judgments!) Each of these areas are complex and will require interpretation and judgment under the new revenue recognition model. This should be a very interesting discussion.<\/p>\n<p>Coordinating the meeting between the IASB group in England and the FASB group in the US presents some interesting logistical challenges, and the meeting will actually begin at 7:00 AM EDT. It is scheduled to run until 2:00 EDT, so the time allocated will allow deep discussion of each issue!<\/p>\n<p>The full agenda, the related Memos discussing each issue, information from the TRG\u2019s first meeting and a description of the TRG\u2019s processes can be found at:<\/p>\n<p><a href=\"http:\/\/www.fasb.org\/cs\/ContentServer?c=Page&amp;pagename=FASB%2FPage%2FSectionPage&amp;cid=1176164066683\">www.fasb.org\/cs\/ContentServer?c=Page&amp;pagename=FASB%2FPage%2FSectionPage&amp;cid=1176164066683<\/a><\/p>\n<p>As always, your thoughts and comments are welcome!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The IASB\/FASB Transition Resource Group for Revenue Recognition is going to meet again on October 31, 2014. (Seems like a fitting day for this meeting!) In case you have not followed the TRG, this group will not issue guidance. Their mission is to identify issues, discuss them, and share their thoughts on each issue. The &hellip; <a href=\"https:\/\/seciblog.pli.edu\/index.php\/the-trg-rides-again-more-revenue-recognition-issues-to-discuss\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">The TRG Rides Again! (More Revenue Recognition Issues to Discuss)<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[1],"tags":[],"coauthors":[163],"class_list":["post-258","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/comments?post=258"}],"version-history":[{"count":0,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/258\/revisions"}],"wp:attachment":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/media?parent=258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/categories?post=258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/tags?post=258"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/coauthors?post=258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}