FASB Extends Disclosure Framework Comment Deadline

The Financial Accounting Standards Board (FASB) today announced November 2 that it would extend the comment period for its Invitation to Comment, Disclosure Framework until November 30, 2012. That paper asks for stakeholder input on ways to improve effectiveness of disclosures in notes to financial statements of public, private, and not-for-profit organizations. 

"We realize that a substantial number of our stakeholders were affected by Hurricane Sandy and may have difficulty meeting the original deadline," said FASB Chairman Leslie F. Seidman. "These stakeholders are encouraged to submit their written comments as soon as possible, but no later than November 30, 2012."
 
Stakeholders can submit a letter detailing their comments via email to director@fasb.org, File Reference No. 2012-220. Those without e-mail should send a letter to Technical Director, File Reference No. 2012-220, FASB, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116.
 
Source: FASB

You may like these other stories...

Ernst & Young fiscal-year revenue rises 6% to $27.4 billionMichael Rapoport of the Wall Street Journal reported late Thursday that Ernst & Young's (EY) global revenue was $27.4 billion in its latest fiscal year,...
TIGTA recommends improvements to selection of problematic paid preparers for further enforcement actionsThe IRS could improve its selection of problematic paid tax return preparers for further enforcement actions, according...
AICPA expresses concerns to IRS about electronic signature standards for “remote transactions”In a Sept. 24 letter to the IRS, the American Institute of CPAs (AICPA) expressed concern that current electronic...

Already a member? log in here.

Upcoming CPE Webinars

Sep 30This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 9In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards.
Oct 15This webinar presents the requirements of AU-C 600, Audits of Group Financial Statements (Including the Work of Component Auditors).
Oct 21Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience’s communication style.