IASB FASB April 2008

In July 2007, as part of the ‘Proactive Accounting Activities in Europe’ initiative, the European Financial Reporting Advisory Group (EFRAG), the Deutsche Rechnungslegungs Standards Committee (DRSC) and the Conseil National de la Comptabilité published a discussion paper Revenue Recognition—A European Contribution.*

The paper’s objective was to stimulate debate on revenue recognition in Europe and to develop European views to be considered by the IASB and FASB in their joint project on revenue recognition. Representatives of the EFRAG and DRSC presented an overview of the discussion paper to the joint board meeting.

No decisions were made. The overview can be found in the observer notes for the session.

*The paper is available at http://www.efrag.org/projects/detail.asp?id=55