Tuesday, September 6, 2011

FAF Proposal On Private Co Standard Setting Coming In A Matter of 'Weeks,' Says FAF's Polley

In the Sept., 2011 "From the President's Desk" letter issued earlier today, Financial Accounting Foundation President & CEO Terri Polley said that after receiving an enormous amount of written and in-person feedback on the topic of how best to set accounting standards for private (nonpublic) companies, the FAF plans to release a proposal on this matter for public comment "in the coming weeks."

Close to 2,500 'unsolicited' (i.e., prior to a formal request for comment) letters have been filed with the FAF/FASB on the subject of private co standard-setting so far, with the initial letter having been filed in the spring by FEI's Committee on Private Company Standards, chaired by George Beckwith.

As noted in Polley's letter, in addition to the longer term strategic decisions being undertaken by the FAF on how best to set accounting standards for private co's (including consideration of the report and recommendations of the Blue Ribbon Panel on Private Co Accounting, issued earlier this year, which recommended formation of a separate board focused on private co accounting standards), FASB is conducting public hearings next month on particular issues and how best to handle those matters for private companies.

Print this post


Limo Servce Atlanta said...

I really love to read this post and I am glad to find your distinguished way of writing the post. Thanks and Regards.Limo Servce Atlanta

online gevonden said...

I read your excellent post. I really appreciate your post. Thanks a lot for share this interesting post. Keep it up.online gevonden

nursing jobs said...

I would love to stop by. But, I think it might have to wait until this summer. I did not know that Serlkay had ever expanded its size. I must say that a succesful family owned business in this.nursing jobs

domain names and registration said...

I know your expertise on this. I must say we should have an online discussion on this. Writing only comments will close the discussion straight away! And will restrict the benefits from this information.domain names and registration