NAA2503. PCC Forum

The Private Company Council (PCC) helps improve the financial accounting and reporting standards for private companies and evaluates whether private company alternatives to existing Generally Accepted Accounting Principles (GAAP) are necessary. The PCC takes a proactive approach to its mission and engages with private company stakeholders through various channels, including events like this one.

Participants will learn about the PCC’s agenda priority process, which ensures that its efforts are aligned with the evolving needs of private company stakeholders and focused on identifying solutions to the most pervasive and impactful financial reporting challenges.

The PCC has made progress on several projects that emerged from Town Hall and Liaison meetings and other stakeholder discussions. The PCC evaluated and prioritized that stakeholder feedback in its agenda priority process. Participants will learn about those current projects and other current and future activities of the PCC. Additionally, participants will learn how the PCC’s input helps the Financial Accounting Standards Board (FASB) develop standards that provide more relevant information to users of private company financial statements.

This interactive, town hall-style forum will provide participants with the opportunity to engage directly with PCC members, FASB members, and FASB staff by asking questions and providing feedback on the PCC’s current and future agenda and on how financial reporting for private companies might be improved.

Learning Objectives:

• Interpret the PCC’s agenda priority process.
• Evaluate the PCC’s current projects and its future activities.
• Assess how the PCC helps the FASB develop standards.