Tag Archives: Private Company Council

NASBA Praises PCC’s Performance

State Board Report June 2015 The accomplishments of the Private Company Council were given high marks in NASBA’s response to the Financial Accounting Foundation’s three-year review of the PCC. Besides recommending that the PCC continue being more than an advisory body to the Financial Accounting Standards Board (FASB), the letter from Chair Walter C. Davenport…

PCC Comes Up for Review

State Board Report March 2015 The Private Company Council (PCC), established in May 2012, is approaching the three-year mark when the overall assessment of its operations is to be performed. To assist the Board of Trustees of the Financial Accounting Foundation (FAF) in determining if the PCC is fulfilling its mission, a request for comment…

NASBA BOD Urges AICPA to Give PCC Time

State Board Report February 2013 In response to the AICPA’s exposure draft “Proposed Financial Reporting Framework for Small – and Medium-Sized Entities,” (FRF-SME) the NASBA Board of Directors at their January 25 meeting resolved that, “The Public Company Council needs a reasonable opportunity to develop standards uniquely applicable to private companies that can be authoritative…

PCC Holds First Meeting

State Board Report January 2013 Private Company Council Chairman Billy M. Atkinson called to order the inaugural meeting of the Financial Accounting Standards Board’s new advisory group on December 6, 2012 in Norwalk, CT. Created to improve the standard-setting process for private companies, the PCC will initially be focusing their attention on: consolidation of variable…

Former NASBA Chair Atkinson Marks ‘Cultural Change’ in Standard-Setting

January 10, 2013 Private company stakeholders have never been in a better position to have their concerns addressed in the standard-setting process, according to Billy Atkinson, the chair of the new Private Company Council and former Chair of NASBA: “We have the wind in our sails.” The council was created by the Financial Accounting Foundation…

FAF Picks Atkinson and Rubin for PCC

State Board Report October 2012 Two NASBA Past Chairs, Billy M. Atkinson, CPA, and Diane M. Rubin, CPA, have been selected by the Financial Accounting Foundation’s (FAF) Board of Trustees to serve on the new Private Company Council. Mr. Atkinson has been named as chair of the new body, that will work with the Financial…

Former NASBA Chair Atkinson Named PCC Chair

Financial Accounting Foundation Appoints Members To Newly Created Private Company Council NORWALK, CT (September 19, 2012) –The Board of Trustees of the Financial Accounting Foundation (FAF) today appointed the chair and members of the Private Company Council (PCC). The PCC is a new body that will work with the Financial Accounting Standards Board (FASB) to…

FASB Framework Comments Due Oct. 31

State Board Report September 2012 The Financial Accounting Standards Board is calling for comments by October 31, 2012 on its proposed approach for deciding whether and when to modify U.S. Generally Accepted Accounting Principles for private companies. The approach is outlined in “Private Company Decision-Making Framework: A Framework for Evaluating Financial and Reporting Guidance for…