FASB Sets Deadline for Disclosure Field Study Registration

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...

PwC must face $1 billion lawsuit over MF Global adviceA federal judge on Wednesday ordered PricewaterhouseCoopers (PwC) to face a $1 billion lawsuit claiming that its bad accounting advice was a substantial cause of the...
Anti Burger Kings: Seven US companies shrinking tax the old-fashioned wayBurger King’s decision to combine with Canadian donut shop Tim Hortons is renewing controversy over the lengths some US companies will go to...
Read more from Larry Perry here and in the Today's World of Audits archive.Since the AICPA's Financial Reporting Framework for Small- to Medium-sized Entities (FRF for SMEs) and some other financial reporting...

Already a member? log in here.

Upcoming CPE Webinars

Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 10
Transfer your knowledge and experience to prepare your team for the challenges and opportunities of an accounting career.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.
Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.