This session will dive into the Revenue and Expense Recognition Preliminary Views document. We'll discuss why the GASB has determined that there's a need to develop a comprehensive revenue and expense recognition model and describe some of the key provisions proposed in the document.
Determine the reasons the GASB is taking a comprehensive look at revenue and expense recognition.
Identify the GASB's preliminary views regarding a new approach for categorization of revenue and expense transactions.
Distinguish how certain common transactions would be analyzed under the preliminary model.