PCC Holds June 2021 Meeting July 7, 2021 The Private Company Council (PCC) held a meeting with the FASB on June 21–22, 2021. Topics discussed at the meeting included: Issues related to a practical expedient private companies can use to measure the grant-date fair value of equity-classified share-based payment awards. Research findings related to profits interests and their interrelationship with partnership accounting. Current issues in financial reporting related to the COVID-19 pandemic. The FASB’s proposed Accounting Standard Updates on (1) disclosures by business entities about government assistance and (2) the discount rate for lessees that are not public business entities. Postimplementation review issues related to the revenue recognition standard. The FASB’s projects on (1) identifiable intangible assets and the subsequent accounting for goodwill and (2) disclosure requirements for interim reporting. The next PCC meeting is scheduled for September 27–28, 2021. For more information, see the meeting recap on the FASB’s Web site.