IN FOCUS: 2016 GAAP Financial Reporting Taxonomy, Changes and Beyond, and SEC Update
Date: Tuesday, April 5, 2016
Time: 1:00–2:15 p.m. Eastern Daylight Time
Program Description: The Financial Accounting Standards Board (FASB) is pleased to announce an upcoming webcast that will discuss the 2016 GAAP Financial Reporting Taxonomy Release (2016 Taxonomy Release) and proposed changes to the 2017 GAAP Financial Reporting Taxonomy (2017 Taxonomy) for recently issued FASB Accounting Standards Updates (ASUs). In addition, the U.S. Securities and Exchange Commission (SEC) staff will discuss current XBRL filing issues.
Speakers: Louis Matherne, FASB Chief of Taxonomy Development; Donna Johaneman, FASB Supervising Project Manager-XBRL; David Shaw, FASB Project Manager-XBRL; Vickie Lusniak, FASB Assistant Project Manager-XBRL; Mike Willis, Assistant Director, Office of Structured Disclosure, U.S. Securities and Exchange Commission and Kimberly Earle, Associate Chief Accountant, Office of Structured Disclosure, U.S. Securities and Exchange Commission.
Participants will have the opportunity to email questions to the panelists before and during the event.
Learning Objectives: Through this session, participants will gain a better understanding of how the changes in the 2016 Taxonomy Release will affect XBRL exhibits. Participants also will gain insight into current SEC XBRL filing issues, expected changes to future Taxonomy Releases as a result of ASUs, and 2016 activities with a focus on usability.
- Update from the SEC staff on XBRL Filing Issues
- Overview of the 2016 Taxonomy Release including Taxonomy Implementation Notes and the Taxonomy Simplification Initiative.
- Proposed changes to the 2017 Taxonomy for new ASUs, namely: Leases and Recognition and Measurement of Financial Assets and Financial Liabilities
- 2016 activities including restructuring of the change and deprecation labels
- Updates on Taxonomy Implementation Guides
Delivery Method: Group-internet based
Program Level: Overview
Program Prerequisites: None
Advanced Preparation Suggested: Participants are encouraged to review the 2016 GAAP Financial Reporting Taxonomy Release (available at www.fasb.org). They are also encouraged to review the supporting materials listed on the FASB Taxonomy page at www.fasb.org.
Recommended CPE and Field of Study: 1.5 hours; Specialized Knowledge and Applications; final CPE earned will be determined on the basis of 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