PCC

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

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 […]

‘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. 

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 […]