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New Developments Summary: Joint Transition Resource Group for Revenue Recognition meeting highlights

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The Joint Transition Resource Group for Revenue Recognition (TRG), formed by the FASB and the IASB to consider issues that arise from implementing the new revenue standard, met for the third time on January 26.  This bulletin provides an update on the Boards’ ongoing research projects, summarizes the significant issues discussed at the January 26 TRG meeting, identifies both areas where further action may be necessary by the Boards and areas of general consensus, and previews certain issues that may be discussed at future meetings.