Wiley Revenue Recognition plus Website

9Implementation Issues

1. Effective Dates
   1. Changes to Effective Dates
      1. U.S. GAAP
      2. IFRS
2. Key Terms
3. Implementation Method Options
   1. Overview
   2. Full Retrospective Approach
      1. Practical Expedients
      2. Application and Disclosure
   3. Modified Retrospective Approach
      1. Practical Expedients
      2. Disclosures
4. Change Management Aspects of Implementing the Standard
   1. Overview
   2. Project Approach
      1. Debt Covenants
      2. Compensation Arrangements
      3. Tax Implications

Technical Alert

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.

In addition as a purchaser of this book, you have exclusive access to a companion website, with the latest technical developments and other useful information. See the back of the book information on accessing the site.

Effective Dates

In deciding on effective dates, the Boards wanted ...