actually, don’t call it “little gaap.” officially, it’s the frf – which stands for financial reporting framework for small- and medium-sized entities. and it represents a new chapter in the saga for accounting standards tailored by size of entity.
in this video bite, aicpa ceo barry melancon explains what frf might mean for the profession.
for details, here are:
- the official announcement of frf and
- the aicpa’s complete report:
to read the full article
