How to choose the right accounting framework for a private company

08/29/2013 | Journal of Accountancy online

The release of the AICPA’s Financial Reporting Framework for SMEs and the development of potential private company alternatives within GAAP by the Financial Accounting Standards Board and the Private Company Council this year have added to the financial reporting options for privately held businesses. The AICPA has developed a decision tool to help private company management choose which accounting framework is the best option for financial reporting.

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