In these trying economic times, exempt organizations increasingly look for ways to expand, diversify and replace lost or decreased funding. When discussion occurs around the board table, two options that sometimes rise to the top of the list are to merge with or acquire another not-for-profit entity. For many organizations, this has proven to be a rewarding venture.
On the surface, mergers and acquisitions tend to be grouped together, but there are distinct differences between the two on all levels of the transaction. ASC 958-805, Not-for-Profit Entities: Business Combinations (formerly FASB Statement No. 164) establishes accounting treatment for each type of transaction.
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FMI, contact Debi Ladyman, CPA or Joe VandeBosche, CPA at BKD
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