PCC Holds June 2020 Meeting June 30, 2020 The Private Company Council (PCC) held a meeting with the FASB on June 25, 2020. 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. The FASB’s recently issued ASU deferring the effective dates of ASC 606, Revenue From Contracts With Customers, and ASC 842, Leases. Overview and update on the FASB’s project on distinguishing liabilities from equity. Current financial reporting issues associated with the COVID-19 pandemic. Private-company issues related to accounting for profits interests awards and their interrelationship with partnership accounting. For more information, see the meeting recap on the FASB’s Web site.