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September 24, 2023

When accounting goes unaccounted for

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Friday Footnotes: Remembering Legend Sid Kess; Andersen’s Doing Great; Poland Banned Deloitte From Auditing? | 9.22.23 Now the Profession Is Losing Experienced Accountants Too Opinion: On-the-Job Experiential Learning Credit to Meet the 150-hour Requirement Makes Sense Look What PwC Made the Australian Government Have to Do 6 Ways Email is Secretly Destroying Your Accounting Firm

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Financial Reporting

AICPA Would Like FASB, PCC to Keep Their Heads Up, Get Back to Work

by Caleb Newquist

AICPA President, CEO and former Mr. Universe Barry Melancon, CPA, CGMA wrote a letter to the Financial Accounting Foundation recently to provide feedback on the FAF's review of the Private Company Council. This in and of itself, is not all that interesting, although you get the distinct impression that AICPA relishes in the opportunity to […]

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

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 […]