Upcoming FASRI Roundtables
Finals are over and the holidays are here – great time of the year. As I anticipate FASRI activities for next year, I’m looking forward to the next batch of Roundtables. This past semester, we had an opportunity to meet several new FASB Board Members, Hal Schroeder, Russell Golden, and Daryl Buck, as they each talked about a different topic that is important to the Board. Their sessions were followed up a week or two later by an academic that discussed research opportunities related to the topic that could potentially inform FASB deliberations. We also had a session with the new TAR Managing Editor, John Harry Evans III, which was well-attended as he talked about the publication process and discussed tips on how to get the most from your submission to TAR.
For the upcoming semester, I hope to organize a set of Roundtables that will be of interest to all FASRI readers. So far, I have finalized two Roundtables. On January 18, Mike Breen and Heather Harris, two FASB practice fellows, will discuss the new exposure draft on Revenue Recognition. They will highlight areas within the proposed standard that are most likely to have a significant impact on practice. Revenue recognition is one of the most fundamental and critical aspects of accounting, and a topic that probably everyone talks about sometime during their courses. I expect many of you will benefit from the Roundtable.
On February 1, Denise Jones and Kim Smith will discuss their paper recently published in The Accounting Review on Other Comprehensive Income (OCI). The FASB and IASB are very interested in the topic of OCI, which was discussed extensively at the most recent FASB/IASB Issues Conference that was held in Norwalk in December. Several fundamental issues surround the reporting of OCI, many of which are addressed in Denise’s and Kim’s article. I suspect Roundtable participants can have a productive discussion on this topic.
Roundtables will be held on Wednesday afternoons during the upcoming semester beginning at 4:00 PM eastern time. I hope you look for the upcoming announcements and decide to join us. Also, if any of you have suggestions for future topics that would be helpful to standard setters and you’d like to hear about, let me know.