The Private Company Council
Synopsis
Financial Accounting Foundation chairman Jack Brennan is under pressure from private-company interests to set up a new body-the Private Company Council-to determine separate GAAP for private companies. PCC advocates-including the US Chamber of Commerce-argue that traditional US GAAP has too many disclosure and fair-value requirements that impose very high compliance costs on private companies. But there are influential players-including the Big Four auditors-who oppose creating the PCC. They argue that the compliance costs of traditional GAAP are the price of high-quality accounting standards. Balancing these powerful interests, Brennan must make a decision on the PCC; at stake is US GAAP's ability to facilitate capital allocation decisions in the economy.
- Copyright:
- 2013 HBS
Book Details
- Book Quality:
- ISBN-13:
- Publisher:
- Harvard Business Publishing
- Date of Addition:
- 2016-08-03T18:27:25Z
- Language:
- English
- Categories:
- Usage Restrictions:
- This is a copyrighted book.