FASB offers update on accounting for small, private firms

12/7/2009 | WebCPA

The Financial Accounting Standards Board delivered an update on initiatives that will impact small, privately held businesses to the Private Company Financial Reporting Committee. The committee, which was jointly created by FASB and the American Institute of Certified Public Accountants, also received an update on matters related to the Securities and Exchange Commission. The overall focus of the meeting was the future of private-company accounting.

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