Two critical AICPA initiatives involve enabling CPAs to provide stakeholders with essential information for decision making, writes AICPA Chairman Gregory J. Anton, CPA, CGMA. One is the development of a self-contained financial-reporting framework for small and midsize entities that will be a blend of accrual income-tax methods and traditional accounting methods. The other is a video program, "What's at Stake? A CPA's Insights into the Federal Government's Finances." The video offers nonpartisan analysis of underlying issues of U.S. financial statements and annual budget. Members in the private-company environment are asked to respond to an online survey to assist the AICPA as we gather information about a self-contained financial-reporting framework for small and midsize entities.
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