PCC Holds September 2019 Meeting

The Private Company Council (PCC) held a meeting with the FASB on September 11, 2019.

Topics discussed at the meeting included:

• A potential practical expedient related to measuring the grant-date fair value of equity-classified share-based payment awards.
• Implementation issues associated with private companies’ adoption of the FASB’s new leasing standard, ASU 2016-02.
• Identifiable intangible assets and the subsequent accounting for goodwill.
• Simplifying the balance sheet classification of debt.
• Distinguishing liabilities from equity (including convertible debt).
• Reference rate reform: facilitation of the effects of the interbank offered rate transition on financial reporting.
• The FASB’s new effective-date philosophy.

The next PCC meeting is scheduled for December 16–17, 2019. For more information, see the meeting recap on the FASB’s Web site.