Firm Tools—For Internal Use
Once you decide to provide the FRF for SMEs™ framework at your practice, you can use the client-facing materials highlighted previously, plus the following materials to educate yourself and your staff:
- A Learning and Implementation Plan helps you track your usage of all of the tools in the FRF for SMEs™ Toolkit.
- An Introduction to the Financial Reporting Framework for Small- and Medium-Sized Entities is a primer on FRF for SMEs™ accounting framework. The introduction includes benefits of the framework, background information on its development, basic concepts and sample CPA reports.
- A video, featuring AICPA Chairman of the Board Richard J. Caturano, CPA, CGMA, and AICPA President and CEO Barry C. Melancon, CPA, CGMA, explains the marketplace demand for the FRF for SMEs™ framework, the opportunity it presents for CPA firms’ clients and the important features that address the concerns of owner-managed, for-profit smaller enterprises.
- A flyer explains key features of the FRF for SMEs™ accounting framework and can be distributed to staff and other CPAs.
- An article outlining the new framework may be included in your staff communications, newsletters or on your firm’s intranet. (Coming Soon!)
- A PowerPoint presentation helps you train staff on the new framework.
- The Illustrations of the Application of Certain Principles and Criteria of the FRF for SMEs™ Accounting Framework provides helpful guidance for those implementing the framework.
- A talking point tool helps firms guide conversations with clients to determine whether the framework is appropriate for them. (Coming Soon!)
In addition to these tools, you may want to utilize the AICPA’s Toolkit for Financial Statement Users and the Toolkit for Small Business to reach out to lenders, bankers and business organizations in your community. You can help them understand the benefits of the new FRF for SMEs™ accounting framework and highlight that your firm provides the new framework as a service option for small businesses.