In particular they:
・added guidance on how to determine when a good or service is transferred over time;
・simplified the proposals on warranties;
・simplified how an entity would determine a transaction price (including collectibility, time value of money, and variable consideration);
・modified the scope of the onerous test to apply to long-term services only;
・added a practical expedient that permits an entity to recognise as an expense costs of obtaining a contract (if one year or less); and
・provided exemption from some disclosures for non-public entities that apply US GAAP.