In a long-awaited move, the Financial Accounting Standards Board has proposed new accounting for mergers and acquisitions by not-for-profit organizations.Reflecting a proposed standard on for-profit business combinations, Not-for-Profit Organizations: Mergers and Acquisitions proposes the elimination of the pooling-of-interests method, the measurement of assets and liabilities at fair value, and the recognition of goodwill upon initial recognition of another entity, be it for-profit or not-for-profit.
A second proposal, Not-for-Profit Organizations: Goodwill and Other Intangible Assets Acquired in a Merger or Acquisition, issued simultaneously, presents guidance for intangible assets after a merger or acquisition.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access