Monday, November 22, 2010

FASB Updates Private Cos.; Next Blue Ribbon Panel Mtg Dec. 10

Earlier today, the Financial Accounting Standards Board posted "FASB Update: Private Company Edition." This update, one of a series of updates for investors, private companies, and others published periodically by FASB, provides a detailed (and kudos for plain English!) update on three major proposals (Exposure Drafts) on which FASB is seeking comment from constitutents: (1) financial instruments, (2) revenue recognition and (3) leases.

The update also includes links to useful information for private companies (and others) on FASB's website.

Blue Ribbon Panel on Private Co's Will Meet Dec. 10
Separately, the next meeting of the Blue Ribbon Committee on Private Co Standard Setting will take place on Dec. 10. Additional information on the Blue Ribbon Committee, sponsored jointly by the Financial Accounting Foundation (which oversees FASB), the American Institute of CPAs, and the National Association of State Boards of Accountancy, will take place on Dec. 10 at
FAF HQ in Norwalk, CT.

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