All Eyes on Revenue Recognition

Check the agenda—changes are coming for revenue recognition. Forget about exchange versus nonexchange! Soon, it may be all about performance obligations. This is expected to affect revenue recognition for property taxes, grants, and much more. It's time to start paying attention as GASB prepares to issue an exposure draft on revenue recognition guidance in early 2027.

This session will provide an update on the scope of the project and explain the major concept proposing the categorization of revenue between those with and without performance obligations, and revenue with time requirements. Speakers will align the categories with common revenue types reported by governments.