With introduction and welcoming remarks provided by Professor Norman Strauss, Ernst and Young Executive Professor-in-Residence, this daylong conference serves as a forum for interaction between business and accounting executives and policy setters from the Public Company Accounting Oversight Board, U.S. Securities and Exchange Commission and Financial Accounting Standards Board. Featured speakers include SEC Chief Accountant Paul Beswick, FASB Chair Leslie Seidman and PCAOB Board Member Jay Hanson. The Conference has five panels with leading financial experts speaking about various topics including current financial projects, instruments, SEC, GAAP, and development in the private sectors of some companies such as Microsoft, Inc. and Deloitte & Touche LLP, etc., followed by Q & A sessions. Part 2 covers the first portion of the Panel 1. The Big 3 Convergence Projects: Revenue Recognition, Leases and Financial Instruments.