IFRS contain two standards specifically related to revenue recognition: IAS 18 and IAS 11. U.S. GAAP,on the other hand, had many more separate pieces of authoritative guidance that are now codified in FASB Accounting Standards Codification Topic 605. The IASB and FASB jointly issued an Exposure Draft in 2010, which was revised in 2011, with the intent to converge their rules with regard to revenue recognition.