FAF Names Members of New Private Company Council
By Anne Rosivach
The Financial Accounting Foundation (FAF) board of trustees has announced the appointment of the chairman and nine members of the newly created Private Company Council (PCC). The PCC will work with the Financial Accounting Standards Board (FASB) to determine whether and when to modify US Generally Accepted Accounting Principles (GAAP) for private companies.
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The nine members of the PCC will bring the perspectives of private company stakeholders, including executives, users of private company financial statements, bankers, and accounting professionals. The members (with the nominating organization listed, if applicable) are:
- George Beckwith, vice president and CFO of National Gypsum Company in Charlotte, North Carolina; nominated by Nperspective.
- Steven Brown, vice president of US Bank in Portland, Oregon; nominated by the American Bankers Association.
- Jeffery Bryan, partner, Professional Standards Group of Dixon Hughes Goodman LLP in High Point, North Carolina.
- Mark Ellis, CFO of PetCareRx Inc. in Chappaqua, New York; nominated by the AICPA.
- Thomas Groskopf, director and owner of Barnes, Dennig & Co., Ltd. in Cincinnati, Ohio; nominated by Mueller Roofing Distributors, Inc. and Barnes, Dennig & Co., Ltd.
- Neville Grusd, president of Merchant Financial Corporation in New York, New York.
- Carleton Olmanson, managing principal of GMB Mezzanine Capital in Minneapolis, Minnesota; nominated by the Office of Paul Volcker.
- Diane Rubin, partner of Novogradac & Company LLP in San Francisco, California; nominated by NASBA.
- Lawrence Weinstock, vice president of finance of Mana Products, Inc. in Long Island City, New York.
- FAF Requests Nominations for New PCC
- FAF New Council to Improve Standard Setting for Private Companies
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