FASB extends private company alternatives on goodwill and certain identifiable intangible assets to not-for-profits
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FASB extends private company alternatives on goodwill and certain identifiable intangible assets to not-for-profits

3 years ago · 2 min read

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On May 30, 2019, FASB issued Accounting Standards Update (ASU) No. 2019-06, Intangibles—Goodwill and Other (Topic 350), Business Combinations (Topic 805), and Not-for-Profit Entities (Topic 958): Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities, which extends to all nonprofits certain simplifying accounting alternatives previously offered only to private companies. When the private company guidance was issued in 2014, the Board acknowledged that the issues of cost and complexity addressed by the private

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