October 18, 2019

FRF

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

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. 

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

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 […]

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

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 […]