Description
In July 2010 FASB issued a draft Exposure Draft on Financial Statement Presentation. This document proposed significant changes to the Balance Sheets, Income Statements and Statements of Financial Position for all companies. Major push-back from Corporate America encouraged the removal of this topic from FASB's active agenda and its conversion to a research project entitled Financial Performance Reporting. The project still has life. This course reviews the current conditions that resulted in this unusual proposal and its initial reception by the financial reporting community. Although FASB has not established a timeframe for the issuance of a final pronouncement, the approach presented offers a unique alternative to financial reporting. Join us in a dynamic and thought-provoking session as we learn to think differently about financial reporting. For a full discussion of this topic, consider Financial Reporting Changes in Greater Detail as an add-on to this course.
Presenters - William F. O'Brien
Designed For
Designed For: CFOs, controllers and other financial managers.
Role Level - Entry-level/Individual contributor; Manager/Senior Manager; Director; Executive/VP; C-Suite; Sole Practitioner
Objectives
- Review the content of the proposed reformatted financial statements
- Understand what led to these changes
Highlights
- Reformatted financial statements overview
- Status of accounting's perfect storm
- Four cases
Advanced Prep
None
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Leaders
CALCPE Panel
No Biography Available