The CPEA has noted an increase in inquiries regarding special purpose frameworks (SPFs), particularly the tax-, cash-, and modified-cash bases of accounting (the term “cash-basis” will be used to refer to both the cash- and modified-cash basis of accounting). Recent observations indicate that medium- and small-sized businesses are using SPFs more frequently, as these frameworks align with their financial reporting needs in comparison to U.S. generally accepted accounting principles (U.S. GAAP). Authoritative accounting literature does not exist for preparing these
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Tax- and Cash-Basis Financial Statements: Appropriate Terminology for Titles & Captions
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File name: CPEA Report - October 2025 - Tax- and Cash-Basis Financial Statements.pdf
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