FASB Sets Deadline for Disclosure Field Study Registration
by Terri Eyden on
By Jason Bramwell
The Financial Accounting Standards Board (FASB) on Thursday set September 30 as the registration deadline for participation in a field study on disclosures in notes to financial statements.
In May, the FASB announced it was seeking public and private companies and not-for-profit organizations to participate in the field study to evaluate the use of discretion by reporting organizations when providing information in the notes to their financial statements.
Reporting organizations selected to participate in the field study will be given a set of disclosure guidelines by the FASB staff. The organizations will be asked to change the notes to their financial statements based on those guidelines and then report their findings back to the FASB staff. The FASB will not publicly attribute participant responses to their respective organizations.
Study participants also may be asked to take part in a field visit, conference call, or video conference with representatives of the FASB.
Registration information can be found on the FASB website.
You may like these other stories...
Read more from Larry Perry here and in the Today’s World of Audits archive.As one of the first steps in pre-engagement planning, the review of the prior year’s audit documentation is one of the most important....
The Financial Accounting Standards Board (FASB) said on Monday it will reach out to stakeholders about an accounting standard on fair value measurements, after a recent review of the standard noted that some investors found...
Accounting’s Big Data problemReality is swiftly outpacing the ability of accountants to gauge Big Data. In an article for CFO, David M. Katz asked, “What needs to happen for them to start to catch up?”...
Upcoming CPE Webinars
BAR is an acronym for: Boundaries, Authority and Role. This simple tool will provide participants with a solid understanding of leadership essentials to improve their performance.
This material is designed to provide a start-to-finish overview of how to plan and complete high-quality small audits efficiently.
In this session Excel expert David H. Ringstrom, CPA shares numerous techniques that you can use to work with charts more efficiently.
Key Accounting and Reporting Issues for Nonprofits No. 1: Overview and Statement of Financial Position
This material focuses on non-profit organizations organization, accounting and reporting.