The Private Company Council (PCC) is the primary advisory body to FASB on private company accounting matters and advises the board on possible GAAP alternatives to meet the unique needs of users of private company financial statements. The PCC is considering research on possible practical expedients or accounting alternatives for leases, CECL, debt modifications, and retainage. Download the PDF below for details on the research projects, some of which could be finalized in early 2025.
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