FASB Releases PCC Meeting Recap

The FASB has posted to its Web site the meeting recap for the December 11–12, 2025, meeting of the Board’s Private Company Council (PCC). Topics discussed at the meeting included:

• The current research projects on the PCC’s agenda: “(1) lease accounting simplifications, (2) subjective acceleration clauses and debt disclosures, and (3) debt modifications and extinguishments and troubled debt restructurings.”
• An update on the projects on the FASB’s technical agenda, including classification of certain digital assets as cash equivalents, accounting for crypto asset transfers, and targeted improvements to the equity method of accounting.
• The FASB’s postimplementation review project related to its standard on credit losses.
• Recently issued FASB standards that are relevant to private companies, including those on purchased loans (ASU 2025-08), hedge accounting improvements (2025-09), government grants (ASU 2025-10), and interim reporting (ASU 2025-11).
• Effects of the use of technology on standard setting.