SBAC and PCC Hold Joint Meeting

On December 17, 2019, the Small Business Advisory Committee (SBAC) and Private Company Council (PCC) met jointly to discuss (1) reference rate reform and how to facilitate the effects of the interbank offered rate transition on financial reporting, (2) equity method accounting for investments, (3) leases, (4) revenue from contracts with customers, (5) identifiable intangible assets and subsequent accounting for goodwill, and (6) accounting by a joint venture for nonmonetary assets contributed by investors.

The next SBAC meeting is scheduled for May 7, 2020. The next PCC meeting is scheduled for April 16–17, 2020.

For more information, see the meeting recap on the FASB’s Web site.