MEDIA ADVISORY 11/30/11
Registration Opens for December 20 Webcast, IN FOCUS: FASB Update for Nonpublic EntitiesNorwalk, CT, November 30, 2011—Registration is now open 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 Tuesday, December 20, 2011, from 1:00 to 2:40 p.m. EST. 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 Daryl Buck and Larry Smith and FASB staff members Jeff Mechanick, Ron Bossio, and Paul Glotzer providing an overview of the following topics:
- The FAF’s proposal to create a Private Company Standards Improvement Council (PCSIC)
- Progress on a decision-making framework for making exceptions and modifications to GAAP for private companies
- Recently added projects to improve financial reporting for not-for-profit organizations
- Progress on the FASB-IASB convergence program, and
- Other active projects or recently issued standards of interest to nonpublic entities.
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.