News Release 03/03/16


Norwalk, CT, March 3, 2016Registration now is open for an upcoming Financial Accounting Standards Board (FASB) webcast that looks at the 2016 GAAP Taxonomy. 2016 GAAP Financial Reporting Taxonomy Changes and Beyond, and SEC Update will take place on Tuesday, April 5, 2016, from 1:00 to 2:15 p.m. EDT.

Participants in the live broadcast (which is offered free of charge to those who register) will be eligible for up to 1.5 hours of Continuing Professional Education (CPE) credit. (Please note that CPE credit is not available for group viewing of the live broadcast.)

The webcast panel features FASB Chief of Taxonomy Development Louis Matherne; Donna Johaneman—FASB supervising project manager-XBRL; David Shaw—project manager-XBRL; Vickie Lusniak—assistant project manager-XBRL; Mike Willis, assistant director, Office of Structured Disclosure, U.S. Securities and Exchange Commission (SEC); and Kimberly Earle, associate chief accountant, Office of Structured Disclosure, SEC.

Topics of discussion will include:
  • 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 Accounting Standards Updates, including: Leases and Recognition and Measurement of Financial Assets and Financial Liabilities
  • 2016 activities including restructuring of the change and deprecation labels, and
  • Updates on Taxonomy Implementation Guides.
An archive of the webcast will be available on the FASB website through July 5, 2016. (CPE credit will not be available to those who view only the archived webcast.)

For more information about the webcast, log on to

About the Financial Accounting Standards Board

Established in 1973, the FASB is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the FASB. For more information, visit