Twentieth Annual Conference on Financial Reporting


Friday, November 6, 2009
Westin St. Francis Hotel, San Francisco











About the Conference

This conference brings together accounting standard setters, enforcement officials, corporate financial executives, and professional and academic accountants to discuss current issues in financial accounting and corporate reporting. In today's business and regulatory environment, it is essential that preparers and users of financial statements be current on the latest financial reporting trends and issues.

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Tentative Conference Schedule


Time Event
7:30-8:00am Registration and Continental Breakfast

8:00-8:10am Welcome
Maria Nondorf
Assistant Professor and Faculty Director, CFRM, Haas School of Business

8:10-8:30am Opening Remarks and Presentation of the Berkeley Award for Distinguished Contributions to Financial Reporting
Richard Lyons
Dean, Haas School of Business

8:30-9:15am "Current Challenges in International Financial Reporting Standards"
Prabhakar Kalavacherla "PK"
Board Member, IASB

9:15-9:30am Break
9:30-10:45am IASB Panel
Challenges with Assessing Preparedness and the Cost Benefits of IFRS

  • Preparing the U.S. for the move to IFRS - costs vs benefits
  • Assessing preparedness? What lessons can the IASB share?
  • Project to replace IAS 39, Financial Instruments
  • Revenue recognition - are we headed in the right direction?
  • The role of XBRL in financial reporting as an aid to adoption of IFRS
  • Income Tax Project
  • Post-Employment Beneftis Project
  • Consolidation Project
  • IFRS for SMEs: Is this really an option for U.S. privately held companies?

Moderator:
Solomon Darwin
Executive Director,
Center for Innovative Financial Technology, Haas School of Business

Panelists:
Mary Barth
Joan E. Horngren Professor of Accounting, Stanford University
Immediate Past Board Member, IASB

Mark Bielstein
National Partner, KPMG; EITF Member

Russell Golden
Technical Director, FASB; EITF Chair

Prabhakar Kalavacherla "PK"
Board Member, IASB

Craig Olinger
Deputy Chief Accountant, Division of Corporation Finance, SEC

10:45-11am Break

11:00-12:30pm FASB Panel
Handling the New Challenges

  • Importance of being bi-lingual (knowing both U.S. GAAP and IFRS)
  • Benefits of convergence or adoption
  • Is the MOU a "best practice guide" or a deadline?
  • Future of private company reporting
  • Accounting for loan losses
  • Financial Statement Presentation Project
  • Revenue Recognition Project
  • Lease Accounting Project

Moderator:
Suneel Udpa
Visiting Lecturer, Haas School of Business;
Professor, Saint Mary's College

Panelists:
Mary Barth
Joan E. Horngren Professor of Accounting, Stanford University
Immediate Past Board Member, IASB

David Bond
Chief Accounting Officer, Safeway Inc.
FEI Committee on Corporate Reporting

Russell Golden
Technical Director, FASB; EITF Chair

Shea Malcolm
National Partner, Ernst & Young LLP

Arleen Thomas
Sr. Vice President, AICPA

12:30-1:30pm Lunch

1:30-2:00pm Speech Title
Speaker: TBA
2:00-2:15pm Break

2:15-3:30pm SEC/PCAOB Panel
Facing the Challenges at the Crossroads

  • Supreme Court review of PCAOB constitutionality
  • XBRL
  • Current focus of Corporation Finance reviews
  • Importance of training auditors to be principles-oriented
  • IFRS Roadmap
  • Pros and cons of making a decision to move to IFRS in 2011, if not sooner
  • Risks of global arbitrage

Moderator:
Maria Nondorf
Assistant Professor and Faculty Director,
CFRM, Haas School of Business

Panelists:
Prat Bhatt
VP, Corporate Controller, and Principal Accounting Officer, Cisco Systems; FEI Research Foundation Trustee

Conrad Hewitt
Immediate Past Chief Accountant, SEC

Charles Niemeier
Board Member, PCAOB

Craig Olinger
Deputy Chief Accountant, Division of Corporation Finance, SEC

Jim Schnurr
Senior National Professional Practice Director, Deloitte & Touche LLP; Member, PCAOB; Exec. Committee, AICPA Center for Audit Quality

3:30-3:45pm Break

3:45-5:00pm Special Topics Panel
Addressing the Challenges of Financial Statement Disclosures

  • Update on SEC's Disclosure Framework Project
  • SEC Investor Advisory Committee - Technical Agenda of this newly formed committee
  • Interim disclosures vs. annual disclosures
  • Moving financial reporting from a compliance exercise to a communications exercise
  • Ways to better integrate information provided in financial statements, MD&A, and other parts of a company's public reporting package
  • Use of technology (such as XBRL) to improve disclosures

Moderator:
Bob Laux
Senior Director
Financial Accounting and Reporting, Microsoft

Panelists:
Susan Schmidt Bies
Former Board Member: Board of Governors, Federal Reserve System;

Marie Hollein
President & CEO, Financial Executives International

Gregory Bakeis
National Partner, PricewaterhouseCoopers LLP

Sharon McCollam
EVP, COO, & CFO, Williams-Sonoma, Inc.

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Hotel Location, Directions, Accomodations

Westin St. Francis Hotel
Address: 335 Powell Street, San Francisco, CA 94102
Phone: (415) 397-7000
Fax: (415) 774-0124
Website: http://www.westinstfrancis.com/

      A limited number of hotel rooms are reserved at the Westin St. Francis, 335 Powell St., San Francisco, CA, for the nights of November 5-8 at $219 per night. Please indicate on the registration form if you require a room. CFRM will make your reservation for you. Payment is to be made to the hotel upon departure. Room reservations must be made by October 14 to guarantee this rate!

Parking Information
      Garage parking avaliable on site. Special conference rate: $30, from 7am-6pm. For additional parking options, please click here.

      The hotel is also located near the Powell Street BART (Bay Area Rapid Transit). Visit www.bart.gov for a complete list of time schedules.

Driving Directions

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