NFPO Combinations – AcSB

Date recorded:

At its meeting on October 14, 2020, the Not-for-Profit Advisory Committee continued discussing stakeholder feedback on the Exposure Draft, “Combinations – Initial Measurements and Related Disclosures.” The Committee advised the AcSB:

  1. that the difference between the consideration transferred and net assets acquired should be accounted for in net assets instead of the statement of operations; and
  2. the standard should apply on a prospective basis with an option to apply it to combinations that occurred in previous periods. The Committee also provided the AcSB staff with comments to clarify the standard.

Review the summary of discussions on the AcSB's Web site.

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