MEDIA ADVISORY 06/04/12

Registration Opens for June 28 Webcast, IN FOCUS: FASB Update for Nonpublic Entities

Norwalk, CT, June 4, 2012—Registration is now open for the upcoming Financial Accounting Standards Board (FASB) webcast, IN FOCUS: FASB Update for Nonpublic Entities. This live webcast, offered free of charge, will take place on Thursday, June 28, 2012, from 1:00 to 2:40 p.m. EDT. Participants in the live broadcast will be eligible for up to 2 hours of CPE credit. (Please note that CPE credit is not available for group viewing of the live broadcast.)

The webcast will feature FASB members Tom Linsmeier and Marc Siegel, and FASB staff members Jeff Mechanick, Ron Bossio, Liz Gagnon, and Rahul Gupta, providing an overview of the following topics:

1. The Financial Accounting Foundation’s newly established Private Company Council (PCC)
    
2. The private company decision-making framework project and the related project reexamining the definition of a nonpublic entity
    
3. The work of the FASB’s Not-for-Profit Advisory Committee
    
4. A brief overview of several projects in process, including:
    
   1. The FASB’s projects to improve not-for-profit financial reporting
       
   2. The FASB’s disclosure framework project and its relationship to the private company decision-making framework
       
   3. The FASB-IASB projects on leases, revenue recognition, and accounting for financial instruments (focusing on latest developments)
       
   4. Other FASB projects of interest to private companies and not-for-profit organizations.

An archive of the webcast will be available on the FASB website through Wednesday, September 26, 2012. (CPE credit will not be available to those who view only the archived webcast.) More information about the webcast is available at www.fasb.org.


About the Financial Accounting Standards Board

Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit our website at www.fasb.org.