More and more businesses of all sizes have been selling gift cards in recent years, but accounting standards have not kept up with the trend, leaving those companies without clear guidance on how to account for cards that are not redeemed.
Now that appears ready to change, with the Financial Accounting Standards Board considering a proposed rule. That’s important because it will provide long-overdue guidance on when businesses can recognize revenue from those cards which are lost, misplaced, etc.…
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