From the previous revenue recognition standard

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Question 1 Recently the FASB and IASB issued a new Revenue Recognition standard. Go to both the FASB and IFRS websites. Discuss this new standard using information obtained from both websites. Is this new standard significantly different from the previous revenue recognition standard? Why?

Question 2: How do the criteria for determining whether a lease qualifies as a finance (capitalized) lease differ between IFRS and U.S. GAAP?

Reference no: EM131204888

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