Posts Tagged ‘FRF-SMEs’
Want some free CPE course material? Not for credit, but for learning? Included is some material I wrote.
CCH (Wolters Kluwer) makes the material for some of its courses available for no charge.
If you want CPE credit there is a fee for grading the exam and awarding credit. However, if your goal is learning the materials are available gratis.
(Cross-post from my other blog, Nonprofit Update.)
As I write this post, the following materials available:
I’ve written another batch of CPE courses for CCH.
Six one-hour modules delve into the Financial Reporting Framework for Small- and Medium-Sized Entities. That’s an entirely new reporting framework separate from GAAP that will allow for simplified reporting by smaller business entities.
At CPA-Scribo, Charles Hall, CPA, covers FRF for SME – The Lowdown.
In a Q&A format, he provides background on the new alternative to GAAP for small, owner-managed, closely held businesses.
Best part of the post is a listing of 16 key points of the new framework. Check out the post for some of the major ideas in FRF-SME.
Here are some highlights of the Q&A: Read the rest of this entry »
Where could FRF-SMEs possibly have value? A galaxy far, far removed from the one that swirls around the SEC.
There is another teeming galaxy beyond that of the publicly traded SEC-supervised companies and their PCAOB inspected auditors.
Professor Tom Selling discusses the bickering between the AICPA and NASBA over FRF-SMEs in his post, The AICPA’s Financial Reporting Framework: How Low Should a Profession Go? He concluded:
NASBA, in so many words, is telling the AICPA that the FRF is beneath the dignity and responsibilities of the CPA.
I’ve been wanting to talk about the FRF-SME framework and some of the comments floating around. The post above, and my brief comment there, is the springboard to this:
What is beyond the SEC galaxy?
Check out the article for a summary of the new rules that can be used for small business accounting that avoid much of the extra complexity of GAAP.