At its meeting on October 27, 2020, the AcSB completed its deliberations on stakeholder comments on the Exposure Draft “Combinations – Initial Measurements and Related Disclosures .” The Board considered the Not-for-Profit Advisory Committee’s advice, and tentatively decided: (i) that for acquisitions, the difference between consideration transferred and the net assets acquired is recognized in the statement of net assets instead of the statement of operations; and (ii) to clarify aspects of the illustrative examples. The AcSB also finalized the transition provisions. The AcSB approved the issuance of the final standard, subject to final drafting and a written ballot. The Board plans to issue the final standard in March 2021.

Review the Executive Summary on the AcSB's Web site.