Media Advisory 12-02-19

Registration Opens for December 19 FASB Webcast for Private Companies & Not-for-Profit Organizations


Norwalk, CT, December 2, 2019Registration is now open for an upcoming webcast that will proivide a semi-annual update on the Financial Accounting Standards Board's (FASB) standard-setting activities pertaining to private companies and not-for-profit organizations. The webcast, titled IN FOCUS: FASB Update for Private Companies and Not-for-Profit Organizations, will take place on Thursday, December 19, 2019, from 1:00 to 2:40 p.m., Eastern Standard Time.
 
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. (CPE credit is not available for group viewing of the live broadcast.)
 
The webcast will feature FASB Chairman Russ Golden, FASB Member Sue Cosper, Private Company Council (PCC) Member Tim Curt, FASB Assistant Director—Nonpublic Entities Jeff Mechanick, FASB Supervising Project Manager Jenifer Wyss, and FASB Postgraduate Technical Assistants Rebecca Harris and Brooke Swartz. Topics of discussion will include:
  1. Overview of FASB's current agenda/effective dates of major standards
  2. Update on revenue recognition, leases, and credit losses  implementation activities
  3. Update on current agenda projects, including liabilities and equity, goodwill and intangible assets, and reference rate reform
  4. Private Company Council (PCC)/private company efforts
  5. Not-for-profit update
  6. Other FASB simplification and narrow-scope improvement projects
  7. Disclosure framework/other disclosure projects update
  8. Other recently issued standards and noteworthy ongoing projects
  9. Audience question-and-answer session.
An archive of the webcast will be available on the FASB website after the live event. (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.