This week, the Private Company Council (PCC), formed by the Financial Accounting Foundation (FAF) to work with the FASB, announced that it is moving forward in proposing alternatives to the U.S. Generally Accepted Accounting Principles (GAAP) for privately held companies. It has tentatively proposed changing GAAP guidelines to:
- Include two simpler approaches to accounting for certain types of interest rate swaps when a private company intends to economically convert the interest rate on its debt,
- Save private companies from having to separately recognize certain intangible assets acquired in a business combination, and
- Allow for amortization of goodwill and a simplified goodwill impairment model.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium contentNOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
