News Release 06/06/16

REGISTRATION OPENS FOR JUNE 20 FASB WEBCAST
FOR PRIVATE COMPANIES & NOT-FOR-PROFIT ORGANIZATIONS


Norwalk, CT, June 6, 2016Registration now is open for an upcoming Financial Accounting Standards Board (FASB) webcast that provides an update on the FASB’s standard-setting activities pertaining to private companies and not-for-profit (NFP) organizations. IN FOCUS: FASB Update for Private Companies and Not-for-Profit Organizations will take place on Monday, June 20, 2016, from 1:00 to 2:40 p.m. EDT.

Participants in the live broadcast (which is offered free of charge to those who preregister) will be eligible for up to 2 hours of Continuing Professional Education (CPE) credits. (Please note that CPE credit is not available for group viewing of the live broadcast.)

The webcast will feature James L. Kroeker, FASB member; Daryl E. Buck, FASB member; Candace Wright, Private Company Council chair; Jeffrey D. Mechanick, FASB assistant director—nonpublic entities; Mike Cheng, FASB supervising project manager; and Richard A. Cole, FASB supervising project manager, discussing the following:
  1. An overview of the FASB’s current agenda
  2. A discussion of the Private Company Council (PCC) efforts
  3. Not-for-profit update
  4. FASB simplification and Disclosure Framework projects
  5. Revenue Recognition implementation activities
  6. Update on the Financial Instruments and Leases ASUs and projects
  7. Other recently-issued standards and noteworthy ongoing projects
  8. Audience question-and-answer session.
An archive of the webcast will be available on the FASB website through September 17, 2016. (CPE credit will not be available to those who view only the archived webcast.)

For more information about the webcast, visit www.fasb.org.


About the Financial Accounting Standards Board

Established in 1973, the FASB is the independent, private-sector organization, based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the FASB. For more information, visit www.fasb.org.