The AICPA is offering small companies a streamlined way to prepare financial statements with the Financial Reporting Framework for Small- and Medium-Sized Entities. The framework is designed to offer an alternative in non-GAAP reporting, simplified financial statements and financial reporting tailored for smaller businesses. This article reviews the framework's key technical features. The AICPA is also offering free educational resources explaining features of the framework and a decision tool to help businesses that are considering whether to adopt it.
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