NEWS RELEASE 10/31/12

Registration Opens for November 9 Webcast, IN FOCUS: Accounting for Credit Losses on Financial Instruments

Norwalk, CT, October 31, 2012—Registration is now open for the upcoming Financial Accounting Standards Board (FASB) webcast, IN FOCUS: Accounting for Credit Losses on Financial Instruments.  This live webcast, offered free of charge, will take place on Friday, November 9, 2012, from 1:00 to 2:15 p.m. EST.  Participants in the live broadcast will be eligible for up to 1.5 hours of CPE credit.  (Please note that CPE credit is not available for group viewing of the live broadcast.)

The webcast will feature FASB member Larry Smith and practice fellow Steve Kane providing an overview of the FASB’s proposed accounting for credit losses model, developed as part of its project to improve the accounting for financial instruments.

The areas covered in the webcast will include: 

  1. The problem the FASB’s project is attempting to address
     
  2. A history of the joint project on Accounting for Financial Instruments: Impairment
     
  3. A comprehensive overview of the FASB’s proposed expected loss model to account for credit losses
     
  4. A discussion about common questions regarding the FASB’s proposed model
     
  5. Next steps in the process. 

At the end of this program, participants will understand the Board’s proposed model for accounting for credit losses, how it seeks to address issues raised by U.S. stakeholders, and next steps in the process.

An archive of the webcast will be available on the FASB website through February 7, 2013. (CPE credit will not be available to those who view only the archived webcast.)  More information about the webcast is available at 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.