Not Choosing FRF for SMEs Will Be Even Easier Thanks to the AICPA’s New Decision Tool
Are you a prudent business person staring at his/her five-line balance sheet thinking, "As a prudent business person whose financial reporting isn't bound by generally accepted accounting principles and doesn't engage in transactions that require highly-specialized accounting guidance, I'm interested in some simpler accounting framework options. I've gone through the PCC's Private Company Decision-Making Framework but I really like to […]
NASBA, AICPA Agree to Hug It Out Over Private Accounting Standards
After a month of some public and private sniping, NASBA and AICPA seem to be burying the hatchet and have issued a joint press release promising to work together: The AICPA and NASBA are committed to engaging in an effort to ensure that the FRF for SMEs, as a non-authoritative framework, is not confused with […]
NASBA Happy to See Some Legit Options for Private Company Accounting Get Proposed
I intended to get to this yesterday but I was having too much fun rummaging through SEC DCF letters and the day ran out on me. Anyway, NASBA issued a press release to congratulate the Private Company Council for its three proposals for GAAP Lite and they can managed to contain themselves — this time — from telling […]