The following comment is from Kevin G. Kruggel, CPA and chair-elect of the Indiana CPA Society.
The time has come to adopt differential accounting standards for private companies. The needs of private company shareholders and financial statement users are different from those of public companies and therefore not all standards set by FASB are appropriate and relevant for private company financial reporting. If you agree that overly burdensome standards for reporting and disclosure requirements are driving up your costs and are too complex with little benefit, please let the Financial Accounting Foundation(FAF) know by using the following link and easy tool to send your message to FAF. If enough CPAs, bankers, and business owners get involved now we can improve things for our respective futures.
Please click the button below, and voice your opinion. It takes just 30 seconds to make a difference.
That’s right. The future is WOW!
For over 50 years, Kruggel, Lawton & Company has been listening to clients and creating great futures by providing sound accounting advice and savvy tax planning strategies. We specialize in serving closely-held and family-owned businesses for which we offer a full range of audit and tax services. Serving the manufacturing, wholesale, and distribution industries; real estate and commercial/residential construction and related businesses; retail and consumer goods; medical and professional service providers; and not-for-profit organizations. We’ll help you create a sound future.
Your future is our future, and the future is WOW!
South Bend/Elkhart
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