IN FOCUS: FASB Update for Private Companies and Not-for-Profit Organizations

Mon, Dec 19, 2016 1:30 PM EST{LOCAL_TZ}

IN FOCUS: FASB Update for Private Companies and Not-for-Profit Organizations

Date: Monday, December 19, 2016

Time: 1:30–3:10 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: 

  1. Overview of FASB’s current agenda

  2. Private company/Private Company Council (PCC) efforts

  3. Simplification/reporting effectiveness projects

  4. Disclosure framework projects

  5. Not-for-profit efforts

  6. Implementation activities for revenue recognition, credit losses, and leases standards

  7. Update on other projects, including hedging, business combinations projects, and EITF projects

  8. Audience question-and-answer session.



Russell G. Golden,
FASB chairman
Christine A. Botosan
FASB member
Harold L. Monk Jr.
PCC member/incoming FASB member
Jeffrey  D. Mechanick
FASB assistant director—nonpublic entities
Mike Cheng
FASB supervising project manager
Richard A. Cole
FASB supervising project manager


Learning Objectives: At the end of this program, participants will be able to:

  1. Obtain a general understanding of the FASB’s current agenda priorities and list projects recently added to/removed from the FASB’s agenda
  2. Understand the FASB’s private company efforts
  3. Understand current and upcoming areas of discussion for the PCC
  4. List 2-4 FASB simplification projects
  5. Understand the FASB’s ongoing projects to improve disclosure effectiveness
  6. Obtain an update on the FASB’s not-for-profit financial reporting initiatives
  7. Describe the FASB’s efforts to ensure a smooth transition to the revenue recognition, credit losses, and leases standards
  8. Obtain a general understanding of other proposed Accounting Standards Updates (ASUs) and other noteworthy ongoing projects.

Participants will have the opportunity to email questions to the panelists during the event.

Delivery Method: Group-internet based

Program Level: Overview

Program Prerequisites: None

Advanced Preparation Needed: None

Recommended CPE: 2.0 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

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:

NASBA National Registry of CPE Sponsors—Sponsor License Number 107522

Texas Sponsor Number 000016

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