FASB AND PCC TO HOST PRIVATE COMPANY TOWN HALL AT SOUTHERN METHODIST UNIVERSITY
Norwalk, CT, January 22, 2015—The Financial Accounting
Standards Board (FASB) and the Private Company Council (PCC) will host
their fourth Private Company Town Hall Meeting on April 28, 2015, at
Southern Methodist University in Dallas, Texas. The town hall meeting
will take place from 8:30 a.m. to noon (CDT) in the Crum Auditorium in
the Collins Executive Education Center.
The town hall meetings are intended to provide private company
stakeholders across a wide variety of industries the opportunity to
discuss private company accounting issues and share input on current and
future agenda topics of both the FASB and the PCC.
Billy M. Atkinson, chairman of the PCC, will lead the discussion. Other
expected participants are FASB members Daryl E. Buck and Marc A. Siegel,
and PCC members Thomas Groskopf, Mark Ellis, and Carleton Olmanson.
Interested stakeholders should register in advance to participate.
The town hall meeting will be recorded and available for audio playback on the FASB website, www.fasb.org.
About the Private Company Council (PCC)
determines alternatives to existing nongovernmental GAAP to address the
needs of users of private company financial statements, based on
criteria mutually agreed upon by the PCC and the FASB. Before being
incorporated into GAAP, PCC recommendations will be subject to a FASB
endorsement process. The PCC also serves as the primary advisory body to
the FASB on the appropriate treatment for private companies for items
under active consideration on the FASB´s technical agenda.
About the Financial Accounting Standards Board
Established in 1973, the FASB is the independent, private-sector
organization, based in Norwalk, Connecticut, that establishes financial
accounting and reporting standards for public and private companies and
not-for-profit organizations that follow Generally Accepted Accounting
Principles (GAAP). The FASB is recognized by the Securities and Exchange
Commission as the designated accounting standard setter for public
companies. FASB standards are recognized as authoritative by many other
organizations, including state Boards of Accountancy and the American
Institute of CPAs (AICPA). The FASB develops and issues financial
accounting standards through a transparent and inclusive process
intended to promote financial reporting that provides useful information
to investors and others who use financial reports. The Financial
Accounting Foundation (FAF) supports and oversees the FASB. For more
information, visit www.fasb.org.