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

Date: Monday, June 20, 2016

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 Council (PCC) efforts
3. Not-for-profit update
4. FASB simplification and Disclosure Framework projects
5. Revenue Recognition implementation activities
6. Update on the Financial Instruments and Leases ASUs and projects
7. Other recently-issued standards and noteworthy ongoing projects
8. Audience question-and-answer session.

Speakers: James L. Kroeker, FASB member; Daryl E. Buck, FASB member; Candace Wright, Private Company Council chair; Jeffrey D. Mechanick, FASB assistant director—nonpublic entities; Mike 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 current and upcoming areas of discussion for the PCC
3. Identify the key provisions of the upcoming final ASU for Phase I of the FASB’s Not-For-Profit Financial Statements project
4. List 2-4 FASB simplification projects
5. Understand the FASB’s efforts to ensure successful transition to the new Revenue Recognition standard
6. Understand the effective dates of the recently-issued ASUs for the FASB’s Leases and Financial Instruments projects and describe next steps for other, ongoing Financial Instruments projects
7. Obtain a general understanding of other recently-issued ASUs and 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.

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.learningmarket.org

NASBA National Registry of CPE Sponsors—Sponsor License Number 107522

Texas Sponsor Number 000016