Private company reporting subject of upcoming FASB webcast

Aug 30, 2012

FASB’s Sept. 14 webcast will focus on whether and when to modify U.S. GAAP for private companies. FASB recently released a staff paper discussing an approach for such determinations.

The areas covered in the webcast will include: 

  • Six significant factors identified by the FASB staff that differentiate the financial reporting considerations of private companies.
  • Five areas where financial accounting and reporting guidance might differ for private and public companies.
  • Next steps, including plans for the FASB and the newly formed Private Company Council (PCC) to jointly deliberate the feedback received before finalizing the framework.  
  • What feedback is needed from stakeholders, and how the FASB and the PCC will deliberate the input received prior to finalizing the framework.

The webcast is from 1 to 2:15 p.m. EDT. Participants in the live broadcast will be eligible for up to 1.5 hours of CPE credit. Credit is not available for group viewing of the live broadcast. More information about the webcast is available at www.fasb.org.