FRF for SMEs Adoption Strategies: A Practical Look at Choices and Alternatives (Currently Unavailable)

Author: Alan Anderson

FASB established the Private Company Council (PCC) to review and propose alternatives within U.S. GAAP for users of private company financial statements. AICPA then issued a Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs). That framework was designed to respond to small business community financial reporting needs. This on-demand course, FRF for SMEs Adoption Strategies: A Practical Look at Choices and Alternatives ,explains financial reporting choices and alternatives and offers suggestions that can be used to adopt FRF for SMEs as the financial reporting framework of the client to better communicate to their users of those financial statements. Topics covered include enhancing financial reporting, practical approaches to financial reporting choices and alternatives, and implementing the FRF for SMEs framework.

Publication Date: April 2015

Designed For
Certified public accountants

Topics Covered

• Adoption strategies
• Big and little GAAP
• Private Company Financial Statements
• Accounting framework
• Financial reporting choices

Learning Objectives

• Understand accounting framework choices for small- and medium-sized enterprises
• Prepare adoption strategies for FRF for SMEs

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
Basic familiarity with financial reporting and U.S. GAAP

Advance Preparation
None