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The AICPA issued the Financial Reporting Framework, (FRF), for Small and Medium Sized Entities, (SME), including a companion volume which includes application examples, illustrative financial statements, a disclosure checklist, and other tools. The FRF for SMEs is intended as a stable, special purpose framework, suited for privately-held, small to medium sized entities.
This course provides a practical overview of the FRF for SMEs to help the participant apply the framework, including the form, content and disclosures that apply to most SMEs.
Prerequisite: Ability to prepare GAAP financial statements and evaluate financial statement disclosures
Advanced Preparation: None