A Potential Solution to the BIG GAAP vs. Little GAAP Dispute A NEW REPORTING NON-GAAP CHOICE

On June 10, 2013 the American Institute of Certified Public Accountants (AICPA) issued the "Financial Reporting Framework for Small- and Medium-Sized Entities" (FRF for SMEs). The FRF for SMEs was produced in response to the demand from the U.S accounting profession and non-public business owners and users of their financial statements for a more robust and reliable accounting framework when Generally Accepted Accounting Principle (GAAP) financial statements are not required.

PDF document icon FRF for SME.pdf — PDF document, 275 kB (281621 bytes)