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Developments for Revenue Recognition debates ...

Issue 85 / July 2014 IFRS Developments Joint Transition Resource Group for Revenue Recognition debates implementation issues What you need to know At its inaugural meeting, the TRG discussed implementation issues relating to: gross versus net Revenue presentation; royalties on licensed intellectual property; and impairment of capitalised contract costs. The Boards intend to use the TRG s discussions to determine whether additional application guidance or interpretation is needed for entities to apply IFRS 15 consistently.

Joint Transition Resource Group for Revenue Recognition debates implementation issues. 3 . Gross versus net revenue – amounts billed to customers

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