TRG Issue Summary
The Financial Accounting Standards Board and International Accounting Standards Board established the Joint Transition Resource Group for Revenue Recognition (TRG) to inform both boards about issues that arise as entities implement the new revenue recognition standard. The boards will consider this information and determine what action, if any, to take on each issue. TRG met for the sixth time in November 2015 and has discussed a wide variety of issues on almost every aspect of the new standard to date. TRG hasn’t yet set any dates for 2016 but is expected to meet one more time.
Here is a status summary for identified issues that relate to U.S. GAAP. BKD will continue to monitor the revenue recognition standard process.