Accounting boards propose rule for revenue recognition

11/14/2011 | Wall Street Journal, The

The International Accounting Standards Board and its U.S. counterpart, the Financial Accounting Standards Board, jointly proposed a revenue-recognition rule that would simplify the way companies book revenue. "Revenue is the top line, and it is important to every business," said IASB Chairman Hans Hoogervorst. "Our proposals will give analysts and investors the confidence that revenue is being presented on a consistent basis, across industries and continents."

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