AICPA initiatives focus on financial reporting, fiscal responsibility

07/20/2012 | AICPA Insights

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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