For several years the IASB and the FASB had been developing an accounting standard entitled Revenue from

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For several years the IASB and the FASB had been developing an accounting standard entitled Revenue from Contracts with Customers. An original Discussion Paper was released in 2008 but the ultimate accounting standard AASB 15 was not released until 2014. What might be some reasons for the lengthy time period associated with the development of this accounting standard?

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