EITF Update - June 2019

17 Jun 2019 PDF
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The EITF reached a consensus-for-exposure on clarifying the interactions between Topic 321 and Topic 323. The Task Force also discussed but did not reach a final consensus on recognition under Topic 805 for an assumed liability in a revenue contract. The FASB staff led an educational discussion for the Task Force on revenue recognition – contract modifications of licenses of intellectual property. No decisions were made.

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