FASB Sets Deadline for Disclosure Field Study Registration | AccountingWEB

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.
 
Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.