Breakout Session: Accounting Fundamentals for Directors

This session addresses a subset of current issues in public company accounting that are likely to be misunderstood or ignored by directors—often at their own grave peril. The classroom style presentation seeks to improve directors’ understanding of accounting principles in a way that cuts to the chase and de-emphasizes “traditional practices” in favor of more practical strategies. Topics covered will include the discretion introduced by critical accounting policies and the importance of new PCAOB-mandated audit disclosures. The session’s goal is to provide the “ordinary” board member—typically not a member of the audit committee, or possibly a newly appointed member—with a better fundamental understanding of these issues that can lead to better service to the company.