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

Mon, Jun 26, 2017 1:00 PM EDT{LOCAL_TZ}

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

Date: Monday, June 26, 2017

Time: 1:00–2:40 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:
  1. Overview of FASB’s current agenda
  2. Private company/Private Company Council (PCC) efforts
  3. Simplification/narrow improvement 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 recent Accounting Standards Updates (ASUs) and projects, including EITF and Hedging projects.
  8. Audience question-and-answer session.


Marc Siegel
FASB Member

Harold Monk
FASB Member

Jeffrey Mechanick
FASB assistant director—nonpublic entities

Mike Cheng
FASB supervising project manager

Richard Cole
FASB supervising project manager

Marc A. Siegel, FASB Member; Harold L. Monk Jr., FASB member;Jeffrey D. Mechanick, FASB assistant director—nonpublic entities; Michael K. Cheng, FASB supervising project manager; and 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 recent ASUs and other noteworthy ongoing projects.
Participants will have the opportunity to email questions to the panelists during the event.
Registration: To register for this event, please use this link.
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.

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