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About the Financial Accounting Standards Committee



Who we are:

Our Committee is the senior technical committee of the New York State Society of CPAs with respect to financial and accounting matters promulgated by the Financial Accounting Standards Board (FASB), including the Emerging Issues Task Force, the Private Company Council (PCC) and the Financial Reporting Executive Committee (FinREC).

The Committee prepares Comment Letters in response to exposure drafts from the FASB and participates in the preparation of Comment Letters with other committees on topics that involve accounting and other technical matters, such as international accounting standards and SEC matters.


What we do:

The Committee encourages discussion of current accounting developments through:

  • Periodic updates on "pipeline" issues at FASB, EITF, PCC, FinREC, etc.

  • Discusson of technical inquiries

  • Joint actitivis with other committees

  • Designated members respond to technical hotline inquires from Society members, and inquiries are discussed at Committee meetings.

The Committee also encourages members to prepare articles for Society publications, and members serve as contributors/authors/reviewers for the Accounting Department of the CPA Journal and disseminate information on emerging topics. The Committee may also sponsor educational sessions on emerging issues and posts "Hot Topics" to the Society's website,

The Committee also provides members with the opportunity to use the Committee as a forum for discussing accounting and financial reporting issues encountered in practice


Who should join:

  • Anyone interested in impacting developing accounting standards. Standard-setters do consider our input!
  • Anyone involved in financial reporting, quality assurance and consultation functions

  • Anyone who wants to impact the views of others

  • Anyone open to learning from others

  • Anyone who wants to benefit from sharing day-to-day experiences with fellow CPAs

  • Anyone interested in writing articles

  • Anyone who wants to bring fresh viewpoints to your Chapter members. If necessary, chapter representatives can participate

  • Anyone who wants to be a liaison with industry Committees

Membership in the Committee is opento all NYSSCPA members who express an interest and are willing to devote the time necessary to actively participate in the Committee's functions