Subsequent to the issuance of ASU 2014-09 and IFRS 15, questions arose regarding the effective date, implementation of the modified and full retrospective methods, and definition of a completed contract. Related changes instituted by the Boards are incorporated into the guidance in this chapter. The Boards continue to monitor implementation efforts, have proposed and made changes, and may continue to add changes in the early years of the Standard's implementation. The Executive Summary and its appendix contains information on TRG issues, the FASB's ASUs and the project's status, and information about the IASB's Clarifications to IFRS 15. For the latest information on the revenue recognition project, readers should consult each board's project page.
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