PCPS update.

• Position: American Institute of Certified Public Accountants. Private Companies Practice Section - Financial Accounting Foundation - List

Keeping Up with Developments in Private Company Standard Setting

PCPS plans to closely monitor the Trustee Working Group that was formed by the Board of Trustees of the Financial Accounting Foundation (FAF) to address accounting standard setting for nonpublic entities. The FAF, along with the AICPA and the National Association of State Boards of Accountancy, was a sponsor of the Blue-Ribbon Panel on Standard Setting for Private Companies, which examined possible improvements to standard setting for these companies. That panel's January final report included a recommendation for a separate board to address private company standard setting.

The FAF called establishment of the working group "a major development in the FAF's ongoing work on this key strategic priority." The FAF says that the working group will conduct various kinds of outreach to stakeholders, including roundtable meetings, surveys and meetings with advisory and constituent groups and others. In conjunction with obtaining input on the scope of the issues and concerns to be addressed, the trustees also will seek input on suggested improvements, including the solutions recommended by the blue ribbon panel. Watch PCPS communications as more details become available.

Share Ideas with Fellow Practitioners at PCPS Networking Groups

The PCPS Firm-Size Networking Groups offer practitioners the chance to share problems and solutions in an informal setting. Spring meeting dates and locations are:

* 2002 Small Firm Networking Group: May 4-6 in Annapolis, Maryland

* 2005 Small Firm Networking Group: May 16-17 in Key West, Florida

* 2007 Small Firm Networking Group: June 8-10 in Napa Valley, California

* Medium Firm Networking Group: May 12-13 in Nashville, Tennessee

* Large Firm Networking Group: May 5-6, 2011 in New York (AICPA Office Boardroom)

Visit the PCPS site to learn more or register.

Mark Your Calendars for Upcoming PCPS Webinars

The popular and valuable PCPS Member Webinars return next month after a busy season break. These timely presentations, given by nationally known consultants or successful practitioners, allow PCPS members to receive updates on hot topics in the comfort of their own offices. Here's what's on tap for the next several months:

* "Protecting Client Data: Is Your Firm at Risk?," given by Phil Juravel and Nancy Cohen on May 25.

* "Insights into the 2011 PCPS Top Talent Survey Results," given by Rebecca Ryan on June 28.

* "What Should You Blog About?", given by...