Stay up to date with the latest changes to the AICPA’s FRF for SMEs. Melisa Galasso breaks down what’s new and what stays the same in this special purpose framework update.
- Review of the FRF for SMEs framework and its intended audience
- Key changes in the May 2026 edition
- What has not changed, including voluntary use and core accounting principles
- New targeted updates, including hosting arrangement costs and going concern assessment
- Practical resources available for implementation, such as illustrative reports and disclosure checklists
SC.CPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SC.CPA members.
Melisa F. Galasso is the Founder and CEO of Galasso Learning Solutions LLC. A CPA with over 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. Her passion is providing high-quality CPE that is meaningful, creates efficiencies and improves quality, and positively impacts ROI.
Do you think private entities will consider adopting FRF for SMEs?
Financial reporting framework for small and medium size entities
