News Release 06/03/14
Registration Opens for June 23 Webcast on FASB Update for Private Companies and Not-For-Profits
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) credit. (Please note that CPE credit is not available for group viewing of the live broadcast.)
Norwalk, CT, June 3, 2014—Registration is now 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 23, 2014, from 1:00 to 2:40 p.m. EDT.
The webcast will feature Jim Kroeker, FASB vice chairman; Larry Smith, FASB member; Diane Rubin, Private Company Council (PCC) member; Jeff Mechanick, FASB assistant director—nonpublic entities; Mike Cheng, FASB project manager; Rick Cole, FASB project manager; and Ryan Egan, FASB project manager, discussing the following topics:
- The work of the PCC, including final alternatives within Generally Accepted Accounting Principles (GAAP) for goodwill (ASU 2014-02), interest rate swaps (ASU 2014-03), and common control leases/ VIEs (ASU 2013-07), as well as ongoing PCC and related FASB projects
- The FASB’s project to improve NFP Financial Statements, and related and other discussions of the FASB’s NFP Advisory Committee
- The final ASU on Revenue in Contracts with Customers (highlights and transition/ implementation activities)
- The FASB-IASB projects on Leases and Accounting for Financial Instruments (focusing on latest developments and next steps)
- Other FASB projects of interest to private companies and NFP organizations
- Some other recently-issued Accounting Standards Updates (ASUs).
For more information about the webcast, log on to www.fasb.org.
About the Financial Accounting Standards Board
Since 1973, the 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 our website at www.fasb.org.