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The 'International Financial Reporting Standard for Small and Medium-sized Entities' was released in May 2015 ( IFRS for SMEs ). The AICPA has issued its

The 'International Financial Reporting Standard for Small and Medium-sized Entities' was released in May 2015 (IFRS for SMEs).

The AICPA has issued its Financial Reporting Framework for Small- and Medium-Sized Entities. The FRF for SMEs accounting framework is designed for America's small business community.

Discuss why you think these efforts are important- provide five reasons.

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