Private Company Decision-Making Framework

On December 23, 2013, the Board and the Private Company Council issued the Private Company Decision-Making Framework: A Guide for Evaluating Financial Accounting and Reporting for Private Companies (the Guide).

The primary purpose of this Guide is to assist the Board and the PCC in determining whether and in what circumstances to provide alternative recognition, measurement, disclosure, display, effective date, and transition guidance for private companies reporting under U.S. GAAP. This Guide provides considerations for the PCC and the Board in making user-relevance and cost-benefit evaluations for private companies under the existing conceptual framework. The Guide is intended to be one of the tools to help the Board and the PCC identify differential information needs of users of public company financial statements and users of private company financial statements and to identify opportunities to reduce the complexity and costs of preparing financial statements in accordance with U.S. GAAP.

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Notes About Using The Guide

Access to the Guide as posted at this website is permitted only through the dedicated link. You may not store the Guide on your computer or in any archival system. If you provide a link to the Guide, you must link to this page, so that visitors may understand the requirements and conditions for use of the Guide as posted at this website.

Copyright Notice

The Guide is copyrighted by the Financial Accounting Foundation, 401 Merritt 7, Norwalk, Connecticut 06856. All rights reserved. The Guide may be used only for individual personal non-commercial purposes—you may print one copy for such use. No part of the Guide may be further reproduced, stored in a retrieval system, distributed or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the Financial Accounting Foundation.

Private Company Decision-Making Framework: A Guide For Evaluating Financial Accounting and Reporting for Private Companies
(Issue Date 12/23/13)
[Full Text]