Media Advisory 02-14-11


FASB to Host February 24 Webcast, XBRL 2011 Taxonomy Overview

Norwalk, CT, February 14, 2011—The Financial Accounting Standards Board (FASB) today announced it will host XBRL 2011 Taxonomy Overview, a live, one-hour webcast beginning at 1:00 p.m. EST on Thursday, February 24. The webcast will cover what public company financial report preparers need to know about using the Taxonomy, a list of computer-readable tags in eXtensible Business Reporting Language (XBRL) that allows companies to label precisely the thousands of pieces of financial data that are included in typical long-form financial statements and related footnote disclosures.

The webcast will be moderated by FASB Assistant Director Peter C. Proestakes. Panelists include Susan Yount of the U.S. Securities and Exchange Commission, FASB Chief of Taxonomy Development J. Louis Matherne, and FASB XBRL Project Manager Christine Tan. Webcast audience members will have the opportunity to submit questions by e-mail during the live webcast.

The live webcast is offered free of charge to those who preregister. Registration is also available at Preregistered viewers will be provided with a link where they can access the webcast a few minutes prior to its live airing.

An archive of the webcast will be available for continued access by the public 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