http://oscpa.wordpress.com/2012/08/15/are-we-closing-the-gaap-on-differential-standards/ Wed, 12 Dec 2012 15:50:42 +0000 hourly 1 http://wordpress.com/ http://oscpa.wordpress.com/2012/08/15/are-we-closing-the-gaap-on-differential-standards/#comment-1021 Fri, 14 Sep 2012 01:15:34 +0000 http://oscpa.wordpress.com/?p=568#comment-1021 this is an excellent, very comprehensive post. was just listening in to a podcast discussing the convergence, delays and potential issues

]]> http://oscpa.wordpress.com/2012/08/15/are-we-closing-the-gaap-on-differential-standards/#comment-1008 Tue, 11 Sep 2012 05:42:24 +0000 http://oscpa.wordpress.com/?p=568#comment-1008 I am humbled that you would even read me, Jerry. God bless you.

]]> http://oscpa.wordpress.com/2012/08/15/are-we-closing-the-gaap-on-differential-standards/#comment-1003 Fri, 07 Sep 2012 17:57:48 +0000 http://oscpa.wordpress.com/?p=568#comment-1003 Couldn’t have said it better myself Angel!

]]> http://oscpa.wordpress.com/2012/08/15/are-we-closing-the-gaap-on-differential-standards/#comment-971 Fri, 17 Aug 2012 14:11:18 +0000 http://oscpa.wordpress.com/?p=568#comment-971 This addresses the issues of the debate albeit not extensively. There should be more practical examples of non-GAAP needs for small business we can understand that leads to the crying need for small gap standards. We should realize that small businessses combined togetther is bigger than public companies. We would not know it yet, but the small GAP could predominantly control the AAP standards to become the G (generally). And I am not just playing on words. If 80% of businesses in America is small business, then imagine if what we are really introducing in our CPA world is really “small.” Maybe they are small in terms of dollar of gross revenue, But how about their GDP contribution, that would not be small at 80% of the business economy? It also has the widest of business diversities, far more than the public companies could have. How will small GAP be developed for the moms and pops, and the cash business will be a challenge? We do not even have one for the underground economy yet also. These are some of the questions that confront us. The article somehow concludes the debate should not be limited just to the members of the AICPA, It is a good collaboration to build our nation. This thought is wise and in the right direction. Maybe, the small GAP of the private sector belongs to the Enrolled Agents, or another group of accounting practitioners with their won OCBOA, or GATAP thus no longer for the CPA’s monopoly. I believe this should be in the debate. That may not be good to say for I am a CPA also. But the truth is small GAPS is for every “small business” we could define. That definition may also need to be clear. The Enrolled Agents who are also users of small GAP financial statements in their work have not been invited to join the illustrious group of CPA movers and shakers introducing us to small GAP. What do we EAs know? Tell me. This group (stakeholders) has been marginalized in the process, which in my definition is sadly “un-American” (whatever good that term means) especially in todays time that we all have to work together to better our economic lot and not rant (empty debate) one another in our nation building for the CPA, and EA world. (angel y. dayan, EA, CPA, ABA, ATA of http://www.taxwork.com wrote this reply. He is not a pure American like most of us but loves this nation and would like to help build its stairs to progress, since our politics and our economics are both in the wrong places. Send him an email at angel@taxwork.com. Mr/Ms. Brendan Fitzgerald, CPA.

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