Project description
Project description and background
Ever more diverse business models as well as difficult economic conditions have led to ever more questions about revenue recognition. Open questions concern both what situations and elements are recognised as earnings and even basically how revenues are represented.
Bearing in mind the circumstances that prevail in Switzerland, the Commission considered that it was not appropriate to adopt extensive and detailed rules for individual cases. At the same time, it did classify the regulations contained in Swiss GAAP FER up to that point in time as being, in some cases, not comprehensive enough to ensure sufficiently uniform application in all cases.
Against this backdrop, a working group led by Prof. Dr. Peter Leibfried was commissioned in 2012 to assess the fundamental need for action, to identify necessary regulatory areas and to develop principles-based proposals for solutions aimed at the target group of Swiss GAAP FER.
Consultation
Revenue recognition according to Swiss GAAP FER was released for consultation in the March 2014 issue of the Schweizer Treuhänder and on the FER website. The consultation period ended on 4 April 2014.
Contact: Prof. Dr. Peter Leibfried
A total of 12 comments were received during the consultation period. Those comments that did not contain a confidentiality notice were included on the homepage. We thank all who took part in the consultation.
Questions & feedback
We are happy to provide you with information and receive your feedback.
Enactments
Decision and enactment of the recommendation:
The results of the consultation on new regulations for revenue recognition were discussed at the Commission meeting of 17 June 2014 and certain adjustments made. The adjusted standards (Swiss GAAP FER Framework, FER 3 and FER 6) entered into force on 1 January 2016.