News Release 07/6/16


Norwalk, CT, July 6, 2016Registration is now open for an upcoming Financial Accounting Standards Board (FASB) webcast that provides an overview of the recently issued Accounting Standards Update (ASU) on credit losses. IN FOCUS: FASB Accounting Standards Update on Credit Losses will take place on Thursday, July 21, 2016, from 1:00 to 2:00 p.m. EDT.

Participants in the live broadcast (which is offered free of charge to those who preregister) will be eligible for up to 1 hour of Continuing Professional Education (CPE) credit. (Please note that CPE credit is not available for group viewing of the live broadcast.)

The webcast will feature FASB Members Hal Schroeder and Marc Siegel and FASB Practice Fellow Jack Pohlman discussing the following topics:
  1. The purpose and scope of the ASU
  2. Key changes to the accounting for credit losses on loans and debt securities
  3. Disclosures
  4. Transition and effective date
During the live webcast, audience members will have the opportunity to submit questions to the panelists.

An archive of the webcast will be available on the FASB website through October 19, 2016. (CPE credit will not be available to those who view only the archived webcast.)

For more information about the webcast, visit

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