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Summary of the September 2014 PCC meeting

  • PCC meeting Image

Sep 18, 2014

At its meeting this week, the FASB’s Private Company Council (PCC) voted to finalize an “alternative that would exempt private companies from separately recognizing and measuring non-competition agreements and customer-related intangible assets that are not capable of being sold or licensed independently in a business combination.” The alternative will be sent to the FASB for endorsement.

Other topics discussed at the meeting included:

  • How the accounting for stock-based compensation could be improved for private companies.
  • The PCC’s views on the FASB’s leases project.

The PCC’s next meeting is scheduled for December 11, 2014.

For more information about the PCC’s September 16, 2014, meeting, see the related Deloitte Accounting Journal entry and the media recap on the FASB’s Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.