Area of Focus Sessions

NAA2501. FASB Update

The Financial Accounting Standards Board (FASB) has made significant progress on the top priorities identified by stakeholders in its 2021 Agenda Consultation, through the issuance of new standards and continued work towards the completion of other projects. As a result of the progress made, the FASB is undertaking a similar agenda consultation process. In January 2025, the FASB staff issued an Invitation to Comment, Agenda Consultation, to solicit broad stakeholder feedback about the future standard-setting agenda. Additionally, the FASB is continuing its post-implementation reviews of the leases and credit losses standards.

During this session, FASB Vice Chair Hillary Salo, FASB Member Sue Cosper, and FASB Supervising Project Manager Jenifer Wyss will discuss what you need to know about the latest Agenda Consultation Invitation to Comment, how to apply new and upcoming standards successfully, progress on FASB’s ongoing post-implementation reviews, and why the FASB needs your input on these and other projects and initiatives.

Learning Objectives:

  • Assess the 2025 Agenda Consultation Invitation to Comment.
  • Evaluate recently issued Financial Accounting Standards Board (FASB) standards and current projects.
  • Interpret the FASB’s post-implementation review process and how it supports the successful implementation of standards.
Date/Time
–
CPE Credits
1.5
NASBA Field of Study
Accounting
Level
Advanced – (5+ years in the profession)
Prerequisites
4-5+ years in the profession
Advanced Preparation
None
Session Tags
NAA
Speakers
Image of Susan Cosper

Susan Cosper

Board Member
Financial Accounting Standards Board
Image of Jenifer Wyss

Jenifer Wyss

Supervising Project Manager and PCC Coordinator
Financial Accounting Standards Board
Image of Hillary Salo

Hillary Salo

Vice Chair
FASB