In addition, the body that formerly advised FASB on private company issues, the Private Company Financial Reporting Committee (PCFRC), formally passed the torch to the PCC.
What does PCFRC stand for?
PCFRC stands for Private Company Financial Reporting Committee
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Samples in periodicals archive:
[ILLUSTRATION OMITTED] Items on the agenda include the official transition from the Private Company Financial Reporting Committee and a discussion of the Financial Accounting Standards Board's (FASB) Private Company Decision-Making Framework, including the feedback from those responding to the FASB's Invitation to Comment.
In 2006 it established the Private Company Financial Reporting Committee to provide advice to the board on issues related to private companies.
He was a founding member of the Private Company Financial Reporting Committee jointly sponsored by the Financial Accounting Standards Board and American Institute of Certified Accountants.
The Private Company Financial Reporting Committee, which has advised FASB on private company issues since 2007, will cease to exist after a transition period.
The FAF proposal mirrors what we already have in the Private Company Financial Reporting Committee (PCFRC) with FASB's ability to veto any recommendations,' Balhoff says.
The formation of this panel reflects the requests made by FASB's Private Company Financial Reporting Committee and others to consider the future of standard setting for private companies.
Groskopf, an OSCPA member, director at Barnes Denig & Company, and Board member of the AICPA/FASB Private Company Financial Reporting Committee, spoke at one of the general sessions.