The United States Financial Accounting Standards Board (FASB) and the Private Company Council (PCC) have issued an updated Invitation to Comment on the private company decision-making framework. The goal of the Invitation to Comment is to assist the FASB and the PCC to ultimately develop a guide that can be use in determining whether and in what circumstances to provide alternative recognition, measurement, disclosure, display, effective date, or transition guidance for private companies reporting under US GAAP.