AICPA/FAF/NASBA “Blue-Ribbon Panel” on Standard Setting for Private Companies

Meeting 1 Background Materials

April 12, 2010

  1. Report of the Study on Establishment of Accounting Principles, AICPA, March 1972 ("Wheat Report") 
  2. Report of the Committee on Generally Accepted Accounting Principles for Smaller and/or Closely Held Businesses, Accounting Standards Division of AICPA Discussion Paper August 1976 
  3. Report of the Special Committee on Small and Medium-Sized Firms, AICPA 1980 ("Derieux Committee") 
  4. Tentative Conclusion and Recommendations of the Special Committee on Accounting Standards Overload, AICPA December 23, 1981
  5. Report of the Special Committee on Accounting Standards Overload, AICPA February 1983 
  6. a. 1981 FASB Invitation to Comment, Financial Reporting by Private and Small Public companies 

    b. 1983 FASB Special Report Financial Reporting by Privately-Owned Companies: Summary of Reponses to FASB Invitation to Comment 

  7. Financial Reporting by Private Companies: Analysis and Diagnosis, August 1983 FASB Research Report 
  8. Standards overload: Problems and Solutions, AICPA June 1995
  9. Report of the Private Companies Practice Section Special Task Force on Standards Overload, August 1, 1996
  10. Private Company Financial Reporting Task Force Report, AICPA February 28, 2005 and supplementary survey results:

    1. Random Research Survey Results
    2. Broad Outreach Survey Results
    3. Comparison of Certain Random and Broad Outreach Survey Results
  11. Invitation to Comment, Enhancing the Financial Accounting and Reporting Standard-Setting Process for Private Companies, FASB June 8, 2006
  12. Letter to the Financial Accounting Foundation about Accounting Standards for Private Companies, PCFRC November 2, 2009
  13. What do Users of Private Company Financial Statements Want?, Financial Executives Research Foundation 1996
  14. IFRS survey 2009 for private companies, Deloitte
  15. Survey of Senior Financial Executives, Financial reporting by private companies section, Grant Thornton Fall 2009
  16. Private company financial reporting, Grant Thornton Spring 2010