PCC Holds September 2021 Meeting
October 6, 2021
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.