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Private Company Council advances three issues for deeper study
The new Private Company Council on Tuesday formally added three items to its agenda for consideration of possible GAAP exceptions for private companies. Intangible assets in business combinations, variable-interest entities, and “plain vanilla” interest rate swaps all will get further examination by the PCC. Accounting for uncertain tax positions will not be added to the PCC agenda. Meanwhile two new items were slated for preliminary review.

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