Media Advisory 09-13-10


Financial Accounting Standards Board Announces Public Roundtable Meetings to Solicit Input on Private Company Accounting and Reporting Issues

Norwalk, CT, September 13, 2010—The Financial Accounting Standards Board (FASB) has announced it will host two public roundtable meetings to discuss issues relating to existing accounting and reporting standards as they affect private companies. The roundtables are part of a series of such forums planned for the fall that are designed to provide interested stakeholders the opportunity to express their views on various FASB issues.

“The Board’s purpose in holding these public roundtables is to engage in a constructive dialogue about private company accounting and reporting issues with a wide variety of stakeholders, including private companies, their CPA practitioners, and users of private company financial statements,” states Jeffrey Mechanick, FASB assistant director for nonpublic entities. “We want to hear a variety of perspectives on how high-quality financial reporting can be achieved while taking into account the specific needs of the private company sector.”

Issues to be discussed at the roundtables are expected to include, but will not be limited to, Consolidation (Codification Topic 810, originally issued as FASB Interpretation 46(R)) and Income Taxes (Codification Topic 740, originally issued as FASB Interpretation 48).

The roundtables are scheduled as follows:

Tuesday, October 12, 2010
FASB Public Roundtable Meeting on Private Company Accounting and Reporting Issues

Time: 1:00 p.m. – 4:00 p.m. (Eastern Daylight Time)
Location: FASB offices, 401 Merritt 7, Norwalk, CT 06856

Tuesday, November 2, 2010
FASB Public Roundtable Meeting on Private Company Accounting and Reporting Issues

Time: 9:00 a.m. – 12:00 p.m. (Central time)
Location: Dallas, Texas (exact location to be announced later)

The Board is still seeking private company stakeholders to participate in both roundtables. Any individual or organization representing those constituencies desiring to participate in a roundtable should notify the FASB by sending an email to and indicating your location preference. Those interested in observing the roundtables must pre-register for specific sessions. Since seating is limited, no more than three observers from the same organization may attend. Each session will be audiocast live at

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