IFRS Newsletter- English- February 2015

The february edition of IFRS newsletter published by Mazars presents the most important news of the month.

As we foresaw, the FASB and the IASB have decided to introduce amendments to their twin standards ASC 606 and IFRS 15 on revenue recognition. Although the amendments (and their due process) are likely to differ between the two Boards, the FASB taking a more prescriptive approach, they should not affect the principles of the standard, or the convergence achieved between the two accounting frameworks on the recognition of revenue.

In this edition, Beyond the GAAP will return to the main decisions taken by the Boards on the changes to be made to these standards before their first application.

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IFRS newsletter- English- February 2015