February 2010

Are differences in accounting standards for private companies on the way?

Source: AICPA   

In his latest Chair's Corner, AICPA Chairman of the Board Robert R. Harris, CPA/CFF, discusses the newly created blue-ribbon panel whose work this year may lead to differences in financial reporting standards for many of the nation's 29 million private companies, their financial statement users and their CPA firms. "We CPAs know full well that the financial reporting needs of our private company clients or employers and their financial statement users are different from those of public companies. It's time for accounting standards to reflect this difference," he says. Click here to read Harris' insights.

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