The AICPA has issued its Financial Reporting Framework for Small- and Medium-Sized Entities. The FRF for SMEs™ accounting framework is designed for America's small business community. It delivers financial statements that provide useful, relevant information in a simplified, consistent, cost-effective way. The FRF for SMEs™ framework may be used when GAAP financial statements are not required.
While PCPS is a firm membership section of the AICPA, these resources are being made available for a limited time to non-members. Take a test drive to see the type of turn-key solutions PCPS provides to CPAs serving private company clients. Consider joining PCPS to power your practice.
Note: There are numerous other resources in the FRF for SMEs™ Toolkits for CPAs
FRF for SME Staff Training PowerPoint
Once you’ve used the resources in the Toolkit for CPAs to develop your understanding of the FRF for SMEs, it’s time to start training your staff. This PowerPoint template can be used by your firm to introduce team to this client service opportunity. Modify it to fit your firm’s needs and tailor it with examples from your practice.