The AICPA has created the Financial Reporting Framework for Small- and Medium-Sized Entities to offer a new alternative in non-GAAP reporting for small-business owners. The framework is designed to help owner-managed small businesses prepare cost-effective financial statements that meet the needs of financial statement users. Free educational toolkits on the FRF for SMEs for CPAs, small businesses and financial statement users are available at aicpa.org/FRF-SMEs.

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