PCC Holds September 25–26 Meeting

At its September 25–26, 2025, meeting, the FASB’s Private Company Council (PCC) discussed its current agenda priorities. In addition, the FASB staff gave an update on a few of the projects on its research and technical agendas. Key takeaways from the meeting include:

• The PCC indicated that the three topics it is focusing on as part of its agenda prioritization are (1) simplifications to the lease accounting guidance, (2) subjective acceleration clauses, and (3) the scope of an alternative to the interest method for private companies.
• The PCC gave its feedback on several of the FASB’s research agenda projects, including the Board’s agenda consultation, the accounting for and disclosure of intangibles, and financial key performance indicators for business entities.
• The FASB staff gave an update on certain of the projects on its technical agenda, including the accounting for debt exchanges, the accounting for environmental credit programs, the initial measurement of paid-in-kind dividends on equity-classified preferred stock, and the EITF’s project on application of ASC 715 to market-return cash balance plans.
• The FASB staff emphasized the importance to private companies of the recently issued ASU Nos. 2025-05, Measurement of Credit Losses for Accounts Receivable and Contract Assets, and 2025-04, Clarifications of Share-Based Considerations Payable to a Customer.

For more information, see the meeting recap on the FASB’s Web site.