September 19, 2021

When accounting goes unaccounted for

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Friday Footnotes: PwC Pays the Poors Less; Deloitte’s New Minis; BDO Brings on Audit Staff | 9.17.21 TIL There’s Something Called ‘Turnover Contagion’ and It’s Probably Happening At Your Firm Right Now The CEO Seat At Grant Thornton Will Soon Be Kept Warm By Seth Siegel Number of the Day: $2,626 KPMG Australia Audit Partners and Staff Didn’t Get Away with Cheating on Internal Training Exams Either

FRF

Financial Reporting

‘Little GAAP’ vs. Financial Reporting Framework: As a CPA, People Expect You to Know This Crap

by Greg Kyte

Welcome to the latest edition of Accumulated Deprecation, Greg Kyte's monthly column. Go here to read more of Greg's posts.

GAAP is hard. I mean it was hard. But now accounting for private companies and small- and medium-size entities (SMEs) is super easy compared with just two months ago. 
Financial Reporting

AICPA Knows NASBA Is Mad But It’s Okay, NASBA Gets Mad Sometimes

by Adrienne Gonzalez

The ongoing bickering over FRF for SMEs — which went Defcon 4 the other day with a strongly worded press release from NASBA — has just gone nuclear.  I come from a single parent household so I don't know what it's like to live in a home with parents who are on the brink of divorce […]

Financial Reporting

NASBA Stands Behind FASB’s Private GAAP, Can’t Believe the AICPA’s Chutzpah

by Caleb Newquist

On Tuesday we discussed the AICPA's effort to offer a new OCBOA for small businesses, making special note of the Financial Accounting Foundation's slightly irritated response. While the FAF was fine with Melancon & Co. issuing the new Financial Reporting Framework (FRF) for SMEs, they wanted to remind everyone that FRF was most certainly not […]