Defining Issues | May 2019
FASB proposals would change the accounting for goodwill and intangible assets for not-for-profits.
KPMG reports on the FASB's amendments to ASC 350, ASC 805 and ASC 958. NFPs are permitted to include certain intangible assets with goodwill, amortize goodwill over a period of up to 10 years and test goodwill for impairment at either the entity level or the reporting unit level when a triggering event occurs.
FASB extends certain private company alternatives to not-for-profits
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