PCC Holds June 26–27 Meeting

The FASB’s Private Company Council (PCC) held a two-day meeting on June 26–27, 2025. Topics discussed at the meeting included the following:

• The PCC’s current agenda priorities, including “(1) lease accounting simplifications, (2) subjective acceleration clauses, (3) interest method and determining the effective interest rate, (4) weighted-average disclosures, and (5) short-cycle manufacturing.”
• Topics from the FASB’s January 2025 Invitation to Comment Agenda Consultation that the PCC views as a higher private-company priority, including “(1) equity method of accounting, (2) definition of a public business entity, (3) employee stock ownership plan (ESOP) repurchase obligation disclosures, (4) consolidation and definition of common control, and (5) distinguishing liabilities from equity.”
• An update on certain FASB projects, including those on accounting for software projects, accounting for government grants, accounting for paid-in-kind dividends on equity-classified preferred stock, refinements to the scope of the derivatives guidance, narrow-scope refinements to the interim reporting requirements, and the EITF’s project on applying ASC 715 to market-return cash balance plans.

The next PCC meeting is scheduled for September 25–26, 2025. For more information, see the meeting recap on the FASB’s Web site.