MEDIA ADVISORY 09/30/10

Financial Accounting Standards Board Announces Public Roundtable Meetings to Solicit Input on Proposal to Improve Revenue Recognition

Norwalk, CT, September 30, 2010—The Financial Accounting Standards Board (FASB) has announced it will host public roundtable meetings in the United States to discuss its June 2010 Exposure Draft, Revenue Recognition (Topic 605): Revenue from Contracts with Customers, a joint project with the International Accounting Standards Board (IASB). The roundtables are part of a series of international roundtables planned by the FASB and the IASB, and are designed to provide interested stakeholders the opportunity to engage in a constructive dialogue about the Exposure Draft.

The schedule of U.S. roundtables is as follows:

Thursday, November 4, 2010
Joint FASB/IASB Public Roundtable Meetings on the Joint Exposure Draft on Revenue Recognition
Session 1: 9:00 a.m. – 12:00 p.m. (Eastern Daylight Time)
Session 2: 1:00 p.m. – 4:00 p.m. (Eastern Daylight Time)
Location: FASB offices, 401 Merritt 7, Norwalk, CT 06856

Tuesday, November 23, 2010
Joint FASB/IASB Public Roundtable Meetings on the Joint Exposure Draft on Revenue Recognition
Session 1: 9:00 a.m. – 12:00 p.m. (Pacific Standard Time)
Session 2 (tentative): 1:00 p.m. – 4:00 p.m. (Pacific Standard Time)
Location: Stanford University, Schwab Residential Center, East Vidalakis Room, 680 Serra Street, Stanford, California 94305-6090

To ensure the Board receives broad-based input, meeting participants will represent a wide variety of perspectives, including those of preparers, auditors, investors, and other users of financial statements.

Those interested in participating in one of the public roundtables should e-mail their request to director@fasb.org by October 8; participants are also asked to submit their comment letters on the project by October 22.

Those interested in observing the roundtables must pre-register for specific sessions. Since seating is limited, no more than three observers from the same organization may attend. Each roundtable session will be audiocast live at www.fasb.org.

In addition to the U.S. roundtables, the FASB and the IASB plan public roundtable meetings in Kuala Lampur, Malaysia (Monday, November 8), and London (Wednesday, November 10). Details about these sessions will be announced shortly at www.ifrs.org.


About the Financial Accounting Standards Board

Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit our website at www.fasb.org.