United States

ASU 2016-04: Recognition of Breakage for Certain Prepaid Stored-Value Products (a consensus of the FASB Emerging Issues Task Force)

Apr 01, 2016
From Financial Reporting Network

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This Podcast features professionals from KPMG's Department of Professional Practice discussing ASU 2016-04, Recognition of Breakage for Certain Prepaid Stored-Value Products (a consensus of the FASB Emerging Issues Task Force), which provides guidance on how to account for prepaid stored-value products, such as gift cards, prepaid phone cards, travelers checks, and money orders.

For additional information on ASU 2016-04, read our Defining Issues 15-53.