Since its formation in 2012, the Financial Accounting Foundation's Private Company Council (PCC) has proposed changes and exceptions to GAAP for private companies. These alterations, subject to FASB endorsement, represent potentially significant changes to valuation, fair value measurement, and GAAP standards for private companies. In the second installment of BVR's 2014Online Symposium on Fair Value Measurement series curator Mark Zyla examines the work of the PCC thus far, its impact on private company accounting, and its possible future.
Program Agenda
Alternatives in financial reporting for private companies
Mandate of the Private Company Council ("PCC"), established by the FASB
The various accounting standards for which differences between reporting for private and public companies are likely to emerge
Proposals in the recent PCC Exposure Drafts
The potential impact of these proposals on fair value measurements for private companies.
Learning Objectives
Learn why the PCC was founded, its mandate, and its role in relation to FASB
Learn what changes the PCC has suggested and what impact these will have on accounting, valuation, and fair value measurement in private companies
Learn where the PCC currently stands with its exposure drafts
Learn where these changes could eventually be headed
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