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

Friday, December 14, 2018

IN FOCUS:  IN FOCUS:  FASB Update for Private Companies and Not-for-Profit Organizations
Date: Friday, December 14, 2018
Time: 1:00–2:40 p.m. Eastern Standard Time

Program Description: 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.   Overview of Tax Cuts and Jobs Act guidance and monitoring update
3.   Update on revenue recognition, leases, credit losses, hedging, and long -duration insurance implementation activities
4.   Update on current agenda projects, including liabilities and equity, financial performance reporting, and goodwill and intangible assets (recently added)
5.   Private Company Council (PCC)/private company efforts
6.   Not-for-profit update
7.   Other FASB simplification and narrow-scope improvement projects
8.   Disclosure framework update
9.   Other recently issued standards and noteworthy ongoing projects
10. Audience question-and-answer session.




Featured Speakers:

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Russ Golden
FASB Chairman

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Gary Buesser
FASB Board Member

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Jeremy Dillard
PCC Member

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Jeff Mechanick
FASB Assistant Director--Nonpublic Entities

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Michael Cheng
FASB Senior Project Manager and
PCC Coordinator
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Rick Cole
FASB Supervising Project Manager

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Jane Lazzara
FASB Postgraduate Technical Assistant

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Darien Williams
FASB Postgraduate Technical Assistant








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 Tax Cuts and Jobs Act guidance and implementation issues
  3. Understand the FASB’s efforts to ensure successful transition to the new revenue recognition, leases, financial instruments, hedging, long-duration insurance, and other standards
  4. Understand current agenda projects, including liabilities and equity, financial performance reporting, and goodwill and intangible assets
  5. Understand current and upcoming areas of discussion for the PCC
  6. Understand the FASB’s current NFP-focused projects and other activities
  7. List 2–4 FASB simplification/narrow-scope improvement projects
  8. Understand the recently issued disclosure framework standards
  9. Obtain a general understanding of other recently issued standards and noteworthy ongoing projects.
Participants will have the opportunity to email questions to the panelists during the event.

Field of Study: Accounting 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 CPEDirector@fasb.org.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:  https://www.nasbaregistry.org/cpas/complaints. NASBA National Registry of CPE Sponsors—Sponsor License Number 107522 Texas Sponsor Number 000016


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