FASB Previews Framework for Deciding on Accounting Standards Changes for PrivateCompaniesAccording to an article in the ...

Get help with any kind of assignment - from a high school essay to a PhD dissertation

  1. Order Custom Essay, Course Work, Research and Term Papers

FASB Previews Framework for Deciding on Accounting

April 14, 2018

FASB Previews Framework for Deciding on Accounting Standards Changes for Private
Companies
According to an article in the “Accounting Today” on April 15, 2013, the Financial Accounting
Standard Board (FASB) and the Private Company Council (PCC) are determining whether to
have a set of guidelines that will provide “alternative recognition, measurement, disclosure,
display effective date or transition guidance for private companies” reporting under U.S. GAAP.
Most private companies are not recognizing deferred income taxes, not accruing employee
benefit costs, and not consolidating variable-interest entities due to the complexity and cost in
preparing financial statements.
Therefore both FASB and PCC proposed that private companies should be allowed to select the
alternative guidelines within U.S. GAAP that are deem appropriate for recognition and
measurement guidance, rather than applying all the alternatives within GAAP. However, the
proposed guide will continue to provide the financial information that will benefit financial users
such as investors and lenders to make financial decisions.
The guide will help identify the unique needs of the private company industry as well as reduce
the complexity and cost of preparing financial statements under current U.S. GAAP guidelines.
Reference
http://www.nysscpa.org/cpajournal/2008/708/infocus/p14.htm










OUR SERVICE CHARTER






  • Better Grades Guarantee

    Our team of writers prides in high-level competence. The writers have the required expertise that enables them to deliver quality papers that match with the requirements of the grading rubric. In the absence of the rubric, we ensure that the writers follow the clients’ instruction brief to the letter. We can confidently assure our clients to expect nothing short of a pass from the papers that we deliver. Importantly, we have qualified writers who handle different areas of study. This diversification enables us to allot clients’ orders to the writer who is well seasoned in the subject area of study. It also enables the team to become more professional due to specialization. Our clients should put their trust in our service delivery and expect to successfully attain high grades at all times. The fact that we offer free revision reflects our dedication in delivering high quality papers that match with our clients’ expectations.

  • Free Revisions

    The papers that we deliver usually reflect a high quality level. However, there is always a room for any additional fine-tuning touch in line with a client’s preference without any additional charges. To begin with, a client has discretion to make a choice on their preferred top writer from our team. Such a writer could have handled past work for the client and received a positive review from the same. It means that the client has confidence of the quality of service that the writer delivers. Secondly, a client has an option of making use of our editing services. Our editors are always on standby to revise the paper and ensure that it matches with the expectations of a client that the instruction brief had detailed. The revision covers content adjustment that removes off-topic details, addition of sources, removal of language style errors, and assessment of the referencing style in order to enhance compliance.

  • 24/7 Customer Support

    Our team of writers prides in high-level competence. The writers have the required expertise that enables them to deliver quality papers that match with the requirements of the grading rubric. In the absence of the rubric, we ensure that the writers follow the clients’ instruction brief to the letter. We can confidently assure our clients to expect nothing short of a pass from the papers that we deliver. Importantly, we have qualified writers who handle different areas of study. This diversification enables us to allot clients’ orders to the writer who is well seasoned in the subject area of study. It also enables the team to become more professional due to specialization. Our clients should put their trust in our service delivery and expect to successfully attain high grades at all times. The fact that we offer free revision reflects our dedication in delivering high quality papers that match with our clients’ expectations.

  • 100% Confidentiality

    We mind about the interests of our clients holistically. It is for this reason that we maintain high-level confidentiality in regard to our clients’ personal information. Importantly, we use the information for purposes that relate with our services only. The only information that we require relates to our clients’ writing needs. It is also important to note that our clients’ payment information is secure with us. If there is any query in regard to the payment information, then our support team is always willing to provide any clarifications in a prompt manner. Confidentiality extends to the fact that a client made use of our services. It means that we hold our relationship with our clients in secrecy. Importantly, our confidentiality measures beat any advanced security measure that can identify any information regarding our relationship with our clients. It means that our clients transact with us freely without any fear of information leakage.




Related Questions