📝 Meeting Dates

The Private Company Council (PCC) gathered for their latest meeting on September 25 and 26, 2025. It was a jam-packed two days of discussions ranging from lease accounting to effective interest rates.

🧐 Hot Topic: Lease Accounting Simplifications

One of the primary focuses was on lease accounting simplifications. The PCC dissected feedback from a July 2025 working group meeting and a public roundtable on FASB’s post-implementation review of Topic 842, Leases. They explored ideas like an optional single lease accounting model and weighted-average lease disclosures. More outreach with private company stakeholders is on the horizon.

🗣️ Feedback Focus: Subjective Acceleration Clauses

The PCC delved into subjective acceleration clauses in private company debt arrangements. Preliminary observations revealed potential differences in private company accounting. Further outreach with financial statement users is planned to refine this agenda priority.

📊 Research Highlight: Effective Interest Rate Determination

Effective interest rate determination was another key topic. The PCC reviewed staff research and feedback from practitioners on debt instruments subject to Topic 835, Interest. They decided to broaden the focus to other debt-related issues like debt modifications.

📜 New Standards: Updates from FASB

FASB staff provided updates on recently issued standards, touching on their relevance to private companies. Notable mentions include:

• Financial Instruments—Credit Losses (Topic 326)
• Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606)

These updates aim to streamline accounting practices and reduce complexity.