FASB Statement 164: Accounting for Non-Profit Mergers and Acquisitions
Preparing for New Standards on Combinations, Accounting Methods and Disclosures
Recording of a 110-minute webinar with Q&A
Conducted on Wednesday, September 16, 2009
Recorded event now available
This seminar will provide an in-depth review of FASB Statement 164 and offer guidance and best practices to advisors for non-profit organizations on proper accounting and disclosures in mergers and acquisitions.
In good economies and bad, non-profit organizations remain active players in mergers and acquisitions. However, non-profits and their advisors can no longer rely on analogies to business-combination reporting, thanks to recent specific guidance from FASB's Statement 164.
Statement 164 gives non-profits detailed rules on determining whether a business combination is a merger or acquisition, how to account for each, and required disclosures. It takes effect for mergers on or after Dec. 15, 2009 and acquisitions in the first annual reporting period after that date.
While the guidance is a major step forward, non-profit advisors must prepare now for a plethora of new rules and definitions affecting the standard for change in control, handling of goodwill and other intangible assets, and using the carryover or acquisition accounting methods, among other key topics.
Listen as our panel of experienced accounting advisors to non-profit organizations analyzes the new M&A standard in detail, offering suggestions at each step for helping NPO clients make clear and correct accounting disclosures.
- History of previous guidance for non-profit organizations on M&A
- Heavy reliance on business-combination accounting pronouncements
- Need to refer to several different FASB statements
- FASB Statement 164: Its purpose and provisions
- Goal of more uniform presentations
- Dec. 15, 2009 effective date
- Definitions of “merger” and “acquisition,” in non-profit context
- How to distinguish between merger and acquisition
- Key factor is when control is ceded
- Choosing an accounting method
- Carryover method for mergers
- Acquisition method for acquisitions
- How to identify the acquirer, determine the acquisition date
- Measuring assets, liabilities and non-controlling interests
- Recognizing goodwill
- The “predominantly supported” test for recognizing goodwill as of the acquisition date
- Necessary presentations in financial statements, and disclosures
- Reflecting combined entity’s assets, liabilities and net assets as of merger date
- Separate line for acquisitions in financial statements
- Required disclosures for mergers, acquisitions
- Practical impacts of Statement 164 in routine accounting for NPOs and advisors
The panel will help you prepare for these and other accounting aspects of non-profit activity in M&A:
- Distinguishing between a merger, acquisition or other business combination—and choosing the proper accounting method accordingly.
- Dealing with complex choices about recognizing and measuring assets, liabilities and non-controlling interests.
- Making the right decisions about how and when to recognize goodwill.
- Meeting requirements for presenting items in financial statements, and in disclosures consistent with FASB Statement 141R.
Colette Kamps, Senior Manager
Henry & Horne,
She specializes in audits of non-profit organizations and closely held businesses.
Jay Meglich, Shareholder
He chairs the firm's Non-Profit Services Group and provides audit, tax and consulting services to non-profit, for-profit and individual clients. He has more than 20 years of public accounting experience.
Russell Coleman, Partner
Cherry Bekaert & Holland,
He specializes in non-profit and government clients and helps develop the firm's internal procedures for compliance standards. He is the assurance leader for the firm's Non-Profit Industry Group and industry leader for its College and University Group.
On-Demand Seminar - Audio Recording
Includes recorded streaming audio of full program plus PDF handouts.
Note: Self-study CPE and EA credits are not offered on on-demand webinars.
On-Demand Seminar Audio $69.00
Includes full event recording plus handouts.
Note: Self-study CPE and EA credits are not offered on recorded events.
Recorded Audio Download (MP3) $69.00
CD $69.00 plus $9.45 S&H
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Accounting Non-Profit Services Advisory Board
Making Auditors Proficient
Steven J. Luber
Partner-In-Charge, National Not-For-Profit Tax Practice
Principal, Non-Profit and Government Practice
Strand and Associates
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