Accounting


 

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The Institute launched a Web-based survey to assess how well private company financial reports meet the needs of those who use them: bank lenders; investors and venture capital/buyout companies; surety, bonding and insurance companies; business owners and managers; and auditors and others ( http://survey.themsrgroup.com/aicpa.html ). The survey also asks whether the cost of gathering information for private-company GAAP-based financial statements—as in public-company reporting—is justified. The online poll and a telephone survey augmenting it will continue until September 15. While individual responses will be kept confidential, the general results of the survey will be announced this fall. A related discussion paper offers differing views on various aspects of private-company financial reporting ( www.aicpa.org/members/div/acctstd/pvtco_fincl_reprt/index.htm ).

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QUIZ

News quiz: Senate health care bill in the spotlight

Reports related to the Republican bill to repeal many provisions of the PPACA, other tax issues, and the giant AICPA ENGAGE Conference offered a diverse reading list for June. See how much you know about recent news with this short quiz.