IN FOCUS: FASB Update for Private Companies and Not-for-Profit Organizations
Date: Monday, June 27, 2022
Time: 1:00–3:05 p.m. Eastern Daylight 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 current agenda, status of certain projects, and the relationship of the FASB’s current agenda to its mission
- Update on the FASB’s Agenda Consultation research project
- Update on leases and credit losses implementation and post-implementation review activities
- Government assistance, including reporting of COVID-19-related Federal assistance and government assistance disclosures by business entities, and the FASB’s research project on accounting for government grants
- Private Company Council (PCC)/private company efforts
- NFP update
- Update on FASB current projects
- Audience question-and-answer session.
- Obtain a general understanding of the FASB’s current agenda priorities, the status of certain projects on the FASB’s agenda, and the relationship of the FASB’s current agenda to its mission
- Obtain a general understanding of and an update on the FASB’s agenda consultation research project
- Understand the FASB’s efforts to ensure successful transition to the leases and credit losses standards and learn about FASB post-implementation review of those standards
- Understand reporting of government assistance, including COVID-19-related Federal assistance and disclosures by business entities about government assistance, and obtain a general understanding of the FASB’s research project on accounting for government grants and its invitation to comment
- Understand current and upcoming activities of the PCC
- Understand the FASB’s current NFP-focused activities
- Obtain a general understanding of FASB current projects such as the goodwill and intangible assets project.
Field of Study: Accounting
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 National Association of State Boards of Accountancy (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