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.