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Clarifying when a not-for-profit entity that is a general partner should consolidate a for-profit limited partnership (or similar entity)

The objective of this project is to clarify when a not-for-profit entity (NFP) that is a general partner should consolidate a for-profit limited partnership or similar entity.

 

Meeting minutes

  • November 9, 2016 — The Board discussed feedback received on its proposed ASU.
  • March 30, 2016 — The Board discussed the development of a proposed ASU for this project.
  • December 16, 2015 — The Board added this project to its technical agenda.

 

Current status

On January 12, 2017, the FASB issued an ASU amending the consolidation guidance in ASC 958-810.

 

Project milestones

Date Developments Comments
December 16, 2015 Added to the FASB's agenda.
August 3, 2016 Proposed ASU, Clarifying When a Not-for-Profit Entity That Is a General Partner Should Consolidate a For-Profit Limited Partnership or Similar Entity. Comments due October 3, 2016.
January 12, 2017 ASU 2017-01, Clarifying When a Not-for-Profit Entity That Is a General Partner or a Limited Partner Should Consolidate a For-Profit Limited Partnership or Similar Entity Effective for NFPs for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017.

Correction list for hyphenation

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