am I missing something?

As If the FASB Wasn’t Boring Enough, They Will Now Be Debating Semantics

Turns out, everyone is befuddled by the definition of "nonpublic entity": The Financial Accounting Standards Board has added a new project to its agenda to re-examine the definition of a “nonpublic entity,” as part of its efforts to reach out more to private company constituents. […] The decision by FASB chair Leslie F. Seidman to add […]