Transition Resource Group (TRG) Snapshots
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Addresses and summarizes matters discussed at each FASB and IASB Transition Resource Group (TRG) meeting.
November 2016 meeting on revenue
This TRG Snapshot summarizes the November 7, 2016, meeting of the transition resource group (TRG) on revenue recognition.
April 2016 Meeting on revenue
This TRG Snapshot summarizes the April 18, 2016, meeting of the transition resource group (TRG) on revenue recognition, which was formed by the FASB and IASB to discuss and analyze potential issues that preparers may face when implementing the boards’ new revenue standard.
April 2016 meeting on credit losses
This TRG Snapshot summarizes the April 1, 2016, meeting of the FASB’s transition resource group (TRG) for credit losses. The purpose of the credit losses TRG is similar to that of the TRG that the FASB and IASB established to discuss their joint revenue recognition standard. That is, it does not issue guidance but provides feedback on potential implementation issues associated with the FASB’s upcoming standard on accounting for credit losses. However, unlike the revenue recognition TRG, the credit losses TRG was created before the issuance of the final standard on credit losses to ascertain whether the guidance is understandable and to avoid potential implementation issues. The FASB will consider the TRG’s feedback before finalizing the guidance on credit losses.
Summary of revenue implementation issues discussed to date
This TRG Snapshot summarizes the nearly 40 implementation issues discussed, and general agreement reached, by the FASB’s and IASB’s joint transition resource group (TRG) for revenue recognition in its six meetings held to date. The issues are organized topically in a manner consistent with their arrangement in the new revenue standard, and the publication’s appendix lists the issues chronologically. In addition, the appendix includes links to (1) TRG agenda papers that further describe the issues and provide illustrative examples, (2) the TRG’s minutes for each meeting (if publicly available), and (3) Deloitte’s summary of each meeting.