FASB Webcast and Webinar Series

IN FOCUS: FASB Update for Private Companies and Not-For-Profit Organizations


Date: Tuesday, June 23, 2015

Time: 1:00–2:40 p.m. Eastern Daylight Time

Program Description: The Financial Accounting Standards Board (FASB) is pleased to announce its next semiannual webcast providing an update on the FASB’s standard-setting activities pertaining to private companies and not-for-profit (NFP) organizations. The areas covered will include:
  1. An overview of the FASB’s current agenda
  2. Activities of the Private Company Council (PCC), including key issues, PCC input on FASB agenda projects, and PCC town hall meetings
  3. FASB simplification projects
  4. Not-for-profits update
  5. Revenue Recognition implementation activities
  6. Update on other FASB joint projects with the IASB (Leases, Financial Instruments)
  7. Definition of a Business project
  8. Disclosures by Business Entities about Government Assistance
  9. Other recently-issued standards
  10. Audience question-and-answer session.
Speakers: Daryl E. Buck, FASB member; Marc A. Siegel, FASB member; Jeffrey D. Mechanick, FASB assistant director—nonpublic entities; Michael K. Cheng, FASB supervising project manager; Richard A. Cole, FASB supervising project manager; and Elizabeth Gagnon, FASB project manager.

Learning Objectives: At the end of this program, participants will be able to:
  1. Obtain a general understanding of the FASB’s current agenda priorities, and list projects recently added to/removed from the FASB’s agenda
  2. Understand current and upcoming areas of discussion for the PCC
  3. List 2-4 other FASB simplification projects
  4. Describe next steps on the FASB’s Not-for-Profit Financial Statement project
  5. Understand the FASB’s efforts to ensure successful transition to the new Revenue Recognition standard
  6. Obtain a general understanding of the FASB’s projects on Definition of a Business and Disclosures by Business Entities about Government Assistance
  7. Know when new accounting standards updates go into effect for private companies and not-for-profit organizations.
Participants will have the opportunity to email questions to the panelists during the event.

Registration: To register for this event, please use this link.

Delivery Method: Group-internet based

Program Level: Overview

Program Prerequisites: None

Advanced Preparation Needed: None.

Recommended CPE and Field of Study: 2.0 hours; final CPE earned will be determined based on the length of participation in the program, polling questions as described in CPE Eligibility, and completion of a course survey. Credit is provided only to participants in the live broadcast of this course. Please note that credit is not provided for group viewing. Each participant must be registered separately and meet both polling and duration requirements as per NASBA.

Refund/Cancellation Policy: There is no cost for this course and there is no cancellation penalty. Participants will be notified by email as soon as possible if the course is cancelled for any reason.

Complaint Policy: To register complaints about course content or delivery method and to inquire about the timeliness and accuracy of CPE credit posting for this event, contact CPEDirector@fasb.org.


Official National Registry of CPE Sponsors' Statement

The Financial Accounting Foundation/FASB/GASB is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org

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