FASB Enrolls Investment Community in Standard Setting Process

To increase the investment community’s participation in the accounting standard setting process, the Financial Accounting Standards Board (FASB) has established a User Advisory Council. The FASB will host its first meeting of the User Advisory Council on Thursday, February 13, at the Grand Hyatt in New York City.

The Council will assist the FASB in raising awareness of how investors and investment professionals, equity and credit analysts and rating agencies use financial information. The Council will serve as a resource to the FASB both in formulating its technical agenda and on specific projects that the Board undertakes.

By reaching out to a long list of user groups and major financial institutions to establish the Council, the FASB has recruited more than 35 professionals, representing a variety of investment and analytical disciplines.

Council meetings will concentrate on major Board projects that could significantly change financial information currently available to users. The February 13 meeting will cover a range of issues from accounting for financial instruments, to revenue recognition, to pension accounting.

The February 13 meeting is open to the public. Because observation seating is limited, it is important to reserve a seat in advance by contacting the FASB at 203-847-0700, extension 304.

You may like these other stories...

Hertz and Icahn make peaceThere won’t be any nasty, protracted proxy battle between Hertz Global Holdings and activist investor Carl Icahn. The rental car chain agreed last Thursday to give Icahn – who has...
Following other recent high-profile hacking events, investigators discovered yesterday that hackers broke into the draft work paper files of several famous CPA firms. Revealing images of the scantily clad documents have been...
Majority of House of Representatives urges leadership to preserve cash method of accounting for tax purposesA bipartisan majority of the House of Representatives – 233 members – has signed a letter urging House...

Already a member? log in here.

Upcoming CPE Webinars

Sep 18
In this course, Amber Setter will shine the light on different types of leadership behavior- an integral part of everyone's career.
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.
Sep 30
This 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 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.