GOV2033. Revenue & Expense Recognition - What's Ahead? - Part 1

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.

Learning Objectives:

• 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.