UITF40 update

My apologies to readers if I have overlooked something here but it occurred to me the other day that everything has gone 'a little quiet on the UITF40 front'.

There were numerous articles in Taxation a couple of years ago arguing revenue recognition from various points of view. In 'The last word' (Taxation 29 September 2005) Mike Truman suggested that the arguments were all over and we should now all be in agreement. Are we?

If anyone could summarise the main provisions and where we are with UITF40 I would be most grateful.

Query 17 218 — Gander.

Reply by Keith Gordon Atlas Chambers:

Mike Truman's article The Last Word' (Taxation 29 September 2005) was perhaps a little optimistically titled because some of the controversies concerning revenue recognition (and the associated tax treatment) continued for a year or so after its publication.

Having lectured and...