FASB Webcast and Webinar Series

IN FOCUS: 2018 GAAP and SEC Reporting Taxonomies Improvements, Including New Revenue Modeling, and SEC Update

Date: Tuesday, April 3, 2018

Time: 1:00–2:30 p.m. Eastern Daylight Time

The Financial Accounting Standards Board (FASB) is pleased to announce an upcoming webcast that will discuss improvements to the 2018 GAAP Financial Reporting Taxonomy (2018 Taxonomy) for recently issued FASB Accounting Standards Updates (ASUs) and revenue modeling, as well as the new 2018 SEC Reporting Taxonomy. In addition, the U.S. Securities and Exchange Commission (SEC) staff will provide an update.

Learning Objectives: Through this session, participants will gain a better understanding of how improvements in the 2018 Taxonomy will affect registrant XBRL filings. Participants also will gain insight into expected improvements as a result of ASUs, topical projects, and new structural components to assist in usability.  The agenda will include: 
  • Update from the SEC staff
  • Improvements to the 2018 Taxonomy for:
    • New ASUs
    • New structures including an explanation of the new reference roles and how to use extensible lists
    • Revenue modeling to eliminate inconsistent modeling and multiple ways of tagging and to reduce low-use elements
    • Improvements to the FASB exposure process to align with ASU exposure, for example, ASU No. 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.
Participants will have the opportunity to submit questions to the panelists during the event.

Speakers: Louis Matherne, FASB Chief of Taxonomy Development; Donna Johaneman, FASB Senior Project Manager—XBRL; David Shaw, FASB Project Manager—XBRL; Vickie Lusniak, FASB Manager—XBRL, Communication Liaison & Education Support; Elena Kirillova, FASB Assistant Project Manager—XBRL, Mike Willis, Assistant Director, Office of Structured Disclosure, Division of Economic and Risk Analysis, U.S. Securities and Exchange Commission, and Julie Marlowe, Accountant, Office of Structured Disclosure, Division of Economic and Risk Analysis, U.S. Securities and Exchange Commission.

Delivery Method: Group-internet based

Program Level: Overview

Program Prerequisites: None

Advanced Preparation Needed: Participants are encouraged to review the 2018 GAAP Financial Reporting Taxonomy (available at http://www.fasb.org). They also are encouraged to review the supporting materials listed on the FASB Taxonomy page at www.fasb.org.

Recommended CPE and Field of Study: 1.8 hours; Specialized Knowledge and Applications; 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: www.NASBAregistry.org/cpas/complaints

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