News Release 01/22/15
FASB AND PCC TO HOST PRIVATE COMPANY TOWN HALL AT SOUTHERN METHODIST UNIVERSITY
Norwalk, CT, January 22, 2015—The Financial Accounting Standards Board (FASB) and the Private Company Council (PCC) will host their fourth Private Company Town Hall Meeting on April 28, 2015, at Southern Methodist University in Dallas, Texas. The town hall meeting will take place from 8:30 a.m. to noon (CDT) in the Crum Auditorium in the Collins Executive Education Center.
The town hall meetings are intended to provide private company stakeholders across a wide variety of industries the opportunity to discuss private company accounting issues and share input on current and future agenda topics of both the FASB and the PCC.
Billy M. Atkinson, chairman of the PCC, will lead the discussion. Other expected participants are FASB members Daryl E. Buck and Marc A. Siegel, and PCC members Thomas Groskopf, Mark Ellis, and Carleton Olmanson.
Interested stakeholders should register in advance to participate.
The town hall meeting will be recorded and available for audio playback on the FASB website, www.fasb.org.
About the Private Company Council (PCC)
The PCC determines alternatives to existing nongovernmental GAAP to address the needs of users of private company financial statements, based on criteria mutually agreed upon by the PCC and the FASB. Before being incorporated into GAAP, PCC recommendations will be subject to a FASB endorsement process. The PCC also serves as the primary advisory body to the FASB on the appropriate treatment for private companies for items under active consideration on the FASB’s technical agenda.
About the Financial Accounting Standards Board
Established in 1973, the FASB is the independent, private-sector organization, based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the FASB. For more information, visit www.fasb.org.