Find out what you don't know about FAS 157 before it costs you...

Don't have environmental problems at your company? Think again. Recent accounting changes mean that even future environmental liabilities can wreak havoc on your company's financial statements now. At the same time, all U.S. companies have less than five years to prepare for new emissions limits.

Companies can no longer defer environmental problems into the future: FAS 141R and Fin 47 require that they record certain contingent liabilities today, a change that has already hit dozens of companies. Meanwhile, all three presidential candidates say the United States will sign the next round of Kyoto accords in 2013, forcing all companies to learn how to trade; and account for; carbon emissions.

Join Tim Reason, editorial director of CFO.com, as he talks to Paula DiPerna, executive vice president, Chicago Climate Exchange, about how companies will have to account for coming cap-and-trade rules. Then C. Gregory Rogers, president of Advanced Environmental Dimensions, will discuss how contingent environmental liabilities already have posed risks to the balance sheets of companies of all sizes, from the Fortune 500 to tiny firms already on the brink of insolvency.

The environment isn't a question of public relations for your company anymore, it's a question of finance.

Speakers include:

• Paula DiPerna, executive vice president, Chicago Climate Exchange
• C. Gregory Rogers, president of Advanced Environmental Dimensions and author of Financial Reporting of Environmental Liabilities and Risks after Sarbanes-Oxley.

This webcast is independently produced by the editorial staff of CFO.com.