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From IFRS Consultants
Revenue Recognition under IFRS- Workshop 1 of 2

... or when payment is received
As far back as 2004, the IASB and the United States FASB embarked upon a joint Revenue Recognition project with the following main
objectives:
1. Converging US and international standards on revenue recognition
2. Eliminating inconsistencies in the existing conceptual guidance on revenues
3. Providing conceptual guidance that would be useful in addressing
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From Canadian Institute of Finance and Management
International Financial Reporting Standard
...e issued by the International Accounting Standards Board (IASB) in London, UK. The Board consists of 14 members from around the world.
How do IFRS and Canadian GAAP compare?
Like Canadian GAAP, International Financial Reporting Standards are generally principles-based. IFRS provide entities with more accounting policy choices, and applying them will require greater use of professional
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