Private Company Council (PCC)

The Private Company Council (PCC) is a group that advises the Financial Accounting Standards Board (FASB) on accounting issues specifically affecting private companies in the United States. Established in 2012, its goal is to improve financial reporting for private firms by addressing their unique needs and challenges, which often differ from those of public companies. The PCC seeks to simplify accounting rules, making it easier for private businesses to comply with financial reporting requirements while still providing relevant information to stakeholders.