Tag Archives: FRF-SME

Balhoff Says AICPA Committed to PCC

State Board Report November 2013 Both the AICPA’s Financial Reporting Framework for Small- and Medium-Sized Entities and the Financial Accounting Standards Board’s Public Company Council have the same goals of improving the relevance of financial reporting for private companies, but the AICPA is committed to the success of the PCC, AICPA Chairman William Balhoff told…

Written on December 2, 2013 at 9:02 pm, by

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Categories: State Board Reports
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NASBA and AICPA Discuss FRF

State Board Report August 2013 Meetings between NASBA and AICPA leaders and staff have resulted in a joint commitment to ensuring private businesses and the users of their financial statements are not confused about when those businesses should be using Generally Accepted Accounting Principles and when the use of the AICPA’s Financial Reporting Framework for…

Written on August 21, 2013 at 3:05 pm, by

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Categories: State Board Reports
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NASBA Chair Hansen Speaks to “Accounting Today”

July 30, 2013 NASBA Chair Gaylen Hansen recently sat down with Dan Hood, “Accounting Today” editor-in-chief, to discuss recent NASBA initiatives and other issues impacting the accounting profession. Their discussion was captured in two videos. In the first video, Hansen discusses the programs and services that NASBA offers to Boards of Accountancy. > Watch the…

Written on July 30, 2013 at 4:08 am, by

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Categories: Announcements and News, Latest News
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Non-Authoritative Frameworks Discussed

State Board Report July 2013 NASBA leaders are following through on the resolution unanimously approved at the April 19 Board of Directors’ meeting in response to the American Institute of Certified Public Accountants’ creation of their Financial Reporting Framework (FRF) for Small- and Medium-Sized Entities (see sbr 6/13). On July 10 the AICPA released the…

Written on July 24, 2013 at 4:29 pm, by

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NASBA and AICPA Pledge Cooperation on Private Company Financial Reporting Frameworks

NASHVILLE, TN and NEW YORK (JULY 15, 2013) —The National Association of State Boards of Accountancy (NASBA) and the American Institute of CPAs (AICPA) have issued the following joint statement: “The AICPA and NASBA have a shared belief that current Generally Accepted Accounting Principles (GAAP) may not always meet the needs of small private businesses…

Written on July 15, 2013 at 3:00 pm, by

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IMA Voices Opposition to New Small Business Accounting Framework

June 28, 2013 In a June 17 press release, the Institute of Management Accountants (IMA) voiced their opposition to the American Institute of Certified Public Accountants’ (AICPA) new alternative framework option for financial reporting by smaller private entities, the Financial Reporting Framework for Small- and Medium-Sized Entities (FRF-SME). Noting that 70% of new job growth…

Written on June 28, 2013 at 2:17 pm, by

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NASBA Blackballs AICPA from the Standard Setters’ Club – “Accounting Onion”

Publication: Accounting OnionPublished: June 19, 2013Author: Tom Selling In a June 19 Accounting Onion article, author Tom Selling voiced his opposition to the American Institute of Certified Public Accountants’ (AICPA) new alternative framework option for financial reporting by smaller private entities, the Financial Reporting Framework for Small- and Medium-Sized Entities (FRF-SME). “I have generally considered…

Written on June 27, 2013 at 2:43 pm, by

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NASBA Stands Behind GAAP for Private Companies: Opposes Non-Authoritative Frameworks

NASHVILLE, TENN (June 13, 2013) — The National Association of State Boards of Accountancy (NASBA) reaffirmed today its support of Generally Accepted Accounting Principles (GAAP) as modified by the Financial Accounting Standards Board (FASB) to meet the financial reporting needs of private companies. NASBA believes significant progress is being made by the Private Company Council (PCC)…

Written on June 13, 2013 at 4:54 pm, by

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NASBA BOD Urges AICPA to Give PCC Time

State Board Report February 2013 In response to the AICPA’s exposure draft “Proposed Financial Reporting Framework for Small – and Medium-Sized Entities,” (FRF-SME) the NASBA Board of Directors at their January 25 meeting resolved that, “The Public Company Council needs a reasonable opportunity to develop standards uniquely applicable to private companies that can be authoritative…

Written on February 24, 2013 at 3:33 pm, by

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NASBA Comments on Exposure Draft: Proposed Financial Reporting Framework for Small and Medium-Sized Entities 1/28/13

Written on February 5, 2013 at 7:10 am, by

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Categories: Comment Letters, Exposure Drafts & Discussion Papers
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