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FASB Update for Private Companies and Not-for-Profit Organizations Webcast

The Financial Accounting Standards Board is offering a webcast to provide an update on the FASB’s standards projects pertaining to private companies and not-for-profit organizations.  The webcast, In Focus: FASB Update for Private Companies and Not-for-Profit Organizations, will take place on Monday, June 20, 2016 from 1:00 to 2:40 p.m.  The webcast is being offered free of charge to those who preregister.  Participants will also be eligible for up to 2 hours of Continuing Professional Education (“CPE”) credits.
 
It’s expected that the FASB will discuss the Not-for-Profit Financial Reporting: Financial Statements Project.  The project objective is to reexamine existing standards for financial statements presentation by not-for-profits with a focus on:
  • Net asset classification requirements
  • Information provided in financial statements and notes about liquidity, financial performance and cash flows.  
The areas to be covered during the webcast include:
  1. Overview of FASB’s current agenda
  2. Private Company Council (“PCC”) efforts
  3. Not-for-profit update
  4. FASB simplification and Disclosure Framework projects
  5. Revenue Recognition implementation activities
  6. Update on the Financial Instruments and Leases ASUs and projects
  7. Audience question-and answer session.  
If you are unable to listen on the live webcast on June 20, an archive of the webcast will be available on the FASB website through September 17, 2016.
 
EisnerAmper will also be hosting a webinar on September 22, 2016 from noon to 1 pm on the latest coming out of the FASB on the Accounting Standards Update (ASU) No. 2015-230, Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities.  Registration for the webinar will be available in August—watch for more information in this blog.
 
Links to register for the FASB webcast:  

Brian Collins is an Audit Manager with over 10 years of public accounting experience. He performs audit, review, compilation, and tax services for a wide range of clients in various industries, including not-for-profits and automotive dealerships.

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