George Beckwith, CPA, controller of National Gypsum Co. in Charlotte, N.C.; Stephen Bodine, CPA, audit and accounting principal of LarsonAllen LLP in Minneapolis; and Steven D. Lords, CPA, CFO of Martin-Harris Construction in Las Vegas, were named to the Private Company Financial Reporting Committee.
“Beckwith’s large private company perspective, Bodine’s utilization of private enterprise resources from a larger firm and Lords’ 20-plus years’ experience in cash and risk management in the private sector will bring invaluable insights to the committee’s discussion on needs faced by users of private company financial statements,” PCFRC Chair Judy O’Dell said in a press release.
Sponsored by FASB, with additional administrative support from the AICPA, the PCFRC represents nonpublic business entities and focuses on the costs and benefits of standard setting on technical activities and procedures. The committee is part of an effort by FASB and the AICPA to improve the standard-setting process to better meet the needs of privately held enterprises and the users of their financial statements.
More from the JofA: