This 4-hour program is designed to update participants on this AICPA initiative to create an alternative to U.S. GAAP for private reporting entities. This initiative represents a standalone, self-contained special purpose framework (SPF) intended for use by privately-held entities in preparing their financial statements. We will discuss the components of the framework, how it differs from existing U.S. GAAP and income tax basis, choices that are available within the framework, as well as illustrate financial statement formats based on the framework.
Course ID: FRF4
Financial Reporting Framework for Small- and Medium-Sized Entities
- Participants will be able to develop a comprehensive understanding and awareness of the AICPA’s private company financial reporting initiative.
Accounting and disclosure issues associated with private entities.
DESIGNED FORCPAs in public practice and industry who prepare or report on private company financial statements.
FIELD OF STUDY