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John R. Formica, Jr., Partner, PwC to Speak at KC’s 2011 FASB Topic 450 Statement on Loss Contingency Disclosures Demystified Live Webcast

New York, NY, July 14, 2011 --( The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that John R. Formica, Jr., Partner, PwC, will speak at the Knowledge Congress’ webcast entitled: “FASB Topic 450 Statement on Loss Contingency Disclosures Demystified LIVE Webcast.” This event is scheduled for August 29, 2011 from 12:00 - 2:00 PM ET.

For further details, please visit:

Event Synopsis:

The Financial Accounting Standards Board (FASB) proposed Topic 450 Statement on Loss Contingency Disclosures rules that will require publicly traded companies to report the potential costs of litigation (formerly known as Statement of Financial Accounting Standards No. 5).

The change from previous accounting rules has caused many companies to re-examine how they might develop the more detailed disclosure reports for their annual and quarterly filings. The new standard also has been the subject of commentary and clarifications from the FASB and SEC staff regarding implementation issues, valuation methods, application to different kinds of instruments, and effective dates.

The FASB and SEC staff currently is updating and reformatting its interpretive positions, and accounting and finance staff, consultants, and corporate lawyers need to understand how to find and use the new information.

The Knowledge Group has assembled a panel of key thought leaders and regulators to help financial/tax executives understand all the important issues with respect to this important topic. This live webcast is a must attend for all financial/tax executives who need to be in the know with respect to this prejudicial standard for all companies.

About John R. Formica, Jr.

John R. Formica, Jr. is a partner with the National Professional Services Group of PwC located in Florham Park, NJ. He is a leader in the Firm's thought-leadership efforts in the loss contingencies area. John has closely followed the FASB's deliberations on its loss contingency disclosure project and the IASB's recent deliberations on the accounting for loss contingencies. Previously, John spent more than 25 years serving public and large private manufacturing companies as an audit partner in the Hartford, CT office. John is a graduate of Providence College, with a BS in Accounting. He is a Certified Public Accountant and is licensed to practice in ten states. John is a member of the American Institute of Certified Public Accountants, and the Connecticut Society of Certified Public Accountants. He is on the Board of Directors of The Connecticut Forum, serving as its Treasurer, and the National Multiple Sclerosis Society - Connecticut Chapter.

About the PwC Network

PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See for more information."PwC" and "PwC US" refer to PricewaterhouseCoopers LLP, a Delaware limited liability partnership, which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate and independent legal entity.

About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series

The Knowledge Congress was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format.

To contact or register to an event, please visit:

Contact Information
The Knowledge Congress
Thomas LaPointe, Jr., Executive Director
Therese Lumbao, Director
Account Management & Member Services

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