Malta:
Joint Revenue Standard Expected In May
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The IASB announced that they expect to publish the new revenue
standard in the second half of May. IFRS 15, Revenue from
contracts with customers is the result of a joint standard
setting process with the FASB and will be published at the same
time as the FASB's Accounting Standards Update. The guidance is
expected to be substantially converged. The proposed effective date
is expected to be 1 January 2017 for IFRS preparers with early
adoption permitted.
The content of this article is intended to provide a general
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about your specific circumstances.
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