PCC Holds September 2021 Meeting

The Private Company Council (PCC) held a meeting with the FASB on September 28, 2021. Topics discussed at the meeting included:

• Observations from the meeting with the AICPA Private Companies Practice Section Technical Issues Committee.
• Challenges with implementing the leasing standard.
• Feedback on the FASB’s proposed ASU Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.
• Outreach related to profits interests and their interrelationship with partnership accounting.
• Update on the status of the PCC’s project on an optional private-company practical expedient for determining the current price input of equity-classified share-based payment awards.
• Update on the FASB’s agenda consultation.
• Postimplementation review activities related to the credit losses standard.
• Current financial reporting issues associated with the COVID-19 pandemic.

The next PCC meeting is scheduled for December 16–17, 2021. For more information, see the meeting recap on the FASB’s Web site.