PCC Holds June 2023 Meeting July 7, 2023 The Private Company Council (PCC) held a meeting with the FASB on June 22–23, 2023. Topics discussed at the meeting included: Improvements to income tax disclosures. Disclosure improvements related to the SEC’s disclosure update and simplification initiative. Implementation issues related to the FASB’s credit losses standard. The Board’s proposed Accounting Standards Update on scope application of profits interest awards. Accounting for and disclosure of software costs. The PCC’s research project on stock compensation disclosures. The definition of a derivative. Implementation issues related to the FASB’s leasing standard. The next PCC meeting is scheduled for September 11–12, 2023. For more information, see the meeting recap on the FASB’s Web site.