MEDIA ADVISORY 02/24/12

FASB and IASB to Address Frequently Asked Questions on Revised Exposure Draft, Revenue from Contracts with Customers, in February 29 Webcast

Norwalk, CT, February 24, 2012—The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) will hold a live, one-hour webcast to answer and discuss some of the questions and issues that have been raised during outreach on the Boards’ proposals in their November 2011, revised Exposure Draft, Revenue from Contracts with Customers. The webcast takes place on Wednesday, February 29, from 11 a.m. to noon Eastern Standard Time.

The session is intended to help viewers gain an understanding of the main proposals in the revised Exposure Draft and receive answers to various frequently asked questions about the proposals.

The webcast will feature Kristin Bauer, FASB practice fellow and project lead; Glenn Brady, senior technical manager, IASB; and Allison McManus, technical manager, IASB. Viewers will have the opportunity to email questions to the speakers during the event.

The webcast is free of charge; however, viewers are required to preregister. Participants also have the option of preregistering to listen in by phone. An archive of the event will be made available a few days after the live event. CPE credit will not be offered for this webcast.

Press Inquiries:
Christine Klimek, Senior Manager, Media Relations
Financial Accounting Foundation
Telephone: +1 (203) 956-3459
Email: clklimek@f-a-f.org



About the Financial Accounting Standards Board

Since 1973, the US Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit its website at www.fasb.org.

About the IASB

The IASB was established in 2001 and is the standard-setting body of the IFRS Foundation, an independent, private sector, not-for-profit organisation. The IASB is committed to developing, in the public interest, a single set of high quality global accounting standards that provide high quality transparent and comparable information in general purpose financial statements. In pursuit of this objective the IASB conducts extensive public consultations and seeks the co-operation of international and national bodies around the world. The IASB has 15 full-time members drawn from 11 countries and a variety of professional backgrounds. Board members are appointed by and accountable to the Trustees of the IFRS Foundation, who are required to select the best available combination of technical expertise and diversity of international business and market experience. In their work the Trustees are accountable to a Monitoring Board of public authorities. For more information visit www.ifrs.org.