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 CPE webinar with Q&A
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.
- 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.
Henry & Horne
She specializes in audits of non-profit organizations and closely held businesses.| Read More
She specializes in audits of non-profit organizations and closely held businesses.Close
He chairs the firm's Non-Profit Services Group and provides audit, tax and consulting services to non-profit,... | Read More
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.Close
Cherry Bekaert & Holland
He specializes in non-profit and government clients and helps develop the firm's internal procedures for compliance... | Read More
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.Close
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On-Demand Seminar Audio