11/15/2011

The International Accounting Standards Board and its U.S. counterpart, the Financial Accounting Standards Board, proposed a revenue-recognition rule that would simplify how 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."

Related Summaries