FASB Webcast and Webinar Series
IN FOCUS: FASB Update for Private Companies and Not-for-Profit Organizations
Date: Monday, December 14, 2020
Time: 1:00–3:05 p.m. Eastern Standard Time
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:
- Overview of FASB’s COVID-19-related activities
- Current issues in financial reporting, including FASB’s responses to specific COVID-19-related issues raised by stakeholders such as borrower's accounting for debt restructuring and modifications, and reporting of CARES Act funds
- Overview of FASB’s current agenda , status of certain projects, and recently issued standards
- Update on revenue recognition, leases, and credit losses implementation activities
- Update on the goodwill and intangible assets project
- Private Company Council (PCC)/private company efforts
- NFP update
- Reminder about upcoming effective dates of other standards
- Audience question-and-answer session.
Learning Objectives: At the end of this program, participants will be able to:
- Obtain a general understanding of FASB’s COVID-19 related activities
- Understand current issues in financial reporting, including the FASB’s responses to specific COVID-19-related issues such as borrower’s accounting for debt restructurings and modifications, impairment of nonfinancial assets, and reporting of CARES Act funds
- Obtain a general understanding of the FASB’s current agenda priorities, the status of certain projects on the FASB’s agenda, and recently issued standards
- Understand the FASB’s efforts to ensure successful transition to the new revenue recognition, leases, credit losses, and other standards
- Understand the goodwill and intangible assets project
- Understand current and upcoming areas of discussion for the PCC
- Understand the FASB’s current NFP-focused projects and other activities
- Obtain a general understanding of upcoming effective dates of other standards.
Delivery Method: Group-internet based (via video webcast)
Program Level: Overview
Program Prerequisites: None
Advanced Preparation Needed: None.
Recommended CPE: 2.5 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.nasbaregistry.org/cpas/complaints.
NASBA National Registry of CPE Sponsors—Sponsor License Number 107522
Texas Sponsor Number 000016