MEDIA ADVISORY 06/04/13

REMINDER: REGISTER FOR JUNE 5 WEBCAST, IN FOCUS: FASB UPDATE FOR NONPUBLIC ENTITIES

Participants in Live Webcast Eligible for Up to 2 CPE Credits

Norwalk, CT, June 4, 2013—Time is running out to register for the upcoming Financial Accounting Standards Board (FASB) webcast IN FOCUS: FASB Update for Nonpublic Entities. This live webcast, offered free of charge, will take place on Wednesday, June 5, 2013, from 1:00 to 2:40 p.m. EDT. Participants in the live broadcast will be eligible for up to 2 hours of CPE credit. (Please note that CPE credit is not available for group viewing of the live broadcast.)

The webcast will feature FASB members Russ Golden and Hal Schroeder, Private Company Council (PCC) member George Beckwith, and FASB staff members Jeff Mechanick, Ron Bossio, Elizabeth Gagnon, and Michael Cheng, providing an overview of the following topics:
  1. An update on recent PCC meetings, including upcoming proposals on potential alternatives within U.S. Generally Accepted Accounting Principles (GAAP)
  2. The Private Company Decision-Making Framework Project and the related project re-examining the definition of a nonpublic entity
  3. The work of the FASB’s Not-for-Profit Advisory Committee
  4. A brief overview of several projects in progress, including:
    1. The FASB’s project to improve not-for-profit financial reporting
    2. The FASB-IASB projects on Leases, Revenue Recognition, and Accounting for Financial Instruments (focusing on latest developments)
    3. Other FASB projects of interest to private companies and not-for-profit organizations.
  5. Some recently issued Accounting Standards Updates.
An archive of the webcast will be available on the FASB website through Tuesday, September 3, 2013. (CPE credit will not be available to those who view only the archived webcast.)

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.