Financial Reporting Center
The Financial Reporting Center helps CPAs meet the challenges of providing high quality financial reporting. Whether you are a financial statement preparer or a member in public practice, this center provides resources for the entire financial reporting process providing you the information you need to know when you need it.
Financial Reporting Center Update (PDF) - April 1, 2019
Quarterly update of the activities of select technical committees of the AICPA. The content of this expanded Financial Reporting Center newsletter highlights some of the recent activities of the Auditing Standards Board, the Accounting and Review Services Committee and the Assurance Services Executive Committee and its related task forces.
Comment Period deadline extended on Inventory Valuation Guidance until May 1, 2019
In November 2018, the AICPA’s Financial Reporting Executive Committee (FinREC) issued an early working draft of Inventory Valuation guidance, which is part of a broader forthcoming release of the AICPA’s Business Combinations Accounting and Valuation Guide. Feedback was sought on this working draft to solicit comments from valuation specialists, preparers, auditors, financial statement users and other interested parties to further inform the development of this guidance. Due to requests for additional time from respondents, informal comments on this working draft will be accepted until May 1, 2019. Comments should be sent to firstname.lastname@example.org.
Accounting & Financial Reporting
CPAs are facing unprecedented changes in financial reporting. Transactions are more complex; economic and regulatory forces demand higher-quality reporting; and FASB convergence efforts propose major changes to U.S. GAAP. Stay up to date through these resources.
Review, Compilation and Preparation
Review, compilation and preparation services represent a large portion of many small and medium size firms’ services. Ensure you have the resources needed to execute these engagements.
This two-minute video highlights the features and benefits of the AICPA's Financial Reporting Framework for Small- and Medium-Sized Entities.More on AICPA TV
Audit & Attest
Keeping up with accounting and attest standards consistently ranks as a top member need. Let us help with these resources.
- Audit and Attest
- The SAS Clarity Project
- The Attest Clarity Project
- Audit and Attest Standard Setting
- Standards Tracker
- Recently Issued Audit Interpretations
- Recently Issued Technical Q&As
Key differences exist between the resources available on the Financial Reporting Center for audits, compilations and reviews. The AICPA has developed a comparative overview of the distinctions for when your clients have questions about the levels of services.
Assurance & Advisory
Knowing you need information specific to your industry or your clients' industries, Industry Insights provides financial reporting information for topics important to your industry.