PCC Holds June 2020 Meeting

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.