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Private-Company GAAP: Another Set of Standards to Ignore?

Tuesday, December 21, 2010

Over the past year, a blue-ribbon panel has been working to solve some of the problems associated with private-company financial reporting in the United States. The panel has focused on the current process by which the Financial Accounting Standards Board sets generally accepted accounting principles. What the panel has tentatively concluded is that a new standard-setting body should define a "little GAAP" for private U.S. companies by specifying extensive exceptions to existing GAAP... Read More

Bruce Pounder –