FASB Webcast and Webinar Series

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

 
Date: Monday, June 15, 2020

Time: 1:00–2:40 p.m. Eastern Daylight 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 COVID-19-related activities
  2. Overview of FASB’s current agenda/effective dates of major standards
  3. Update on revenue recognition, leases, and credit losses implementation activities
  4. Update on current agenda projects, including distinguishing liabilities and equity, and goodwill and intangible assets
  5. Private Company Council (PCC)/private company efforts
  6. NFP update
  7. FASB’s responses to specific COVID-19-related issues raised by stakeholders including, for example, accounting for lease concessions, fair value measurement, and certain CARES Act programs
  8. Other recently issued standards and noteworthy ongoing projects
  9. Audience question-and-answer  session.
Speakers: FASB Vice Chairman Jim Kroeker; FASB Member Hal Schroeder; PCC Member Rick Reisig; FASB Assistant Director—Nonpublic Entities Jeff Mechanick; FASB Supervising Project Manager Jenifer Wyss; FASB Postgraduate Technical Assistants Frazer Mulugeta and Autumn Zobrist.

Learning Objectives: At the end of this program, participants will be able to:
  1. Obtain a general understanding of how the FASB is responding to financial reporting issues raised by stakeholders during the COVID-19 crisis
  2. Obtain a general understanding of the FASB’s current agenda priorities, and list projects recently added to/removed from the FASB’s agenda, and upcoming effective dates of major standards
  3. Understand the FASB’s efforts to ensure successful transition to the new revenue recognition, leases, credit losses, and other standards
  4. Understand current agenda projects, including liabilities and equity, 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. Understand the FASB’s work on specific COVID-19-related issues including, for example, accounting for lease concessions, fair value measurement, and certain CARES Act programs
  8. 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 and Field of Study: 2.0 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

NASBA National Registry of CPE Sponsors—Sponsor License Number 107522

Texas Sponsor Number 000016