Finance

FASB Proposes Update To Nonprofit Accounting Rules

The Financial Accounting Standards Board (FASB) set a Feb. 18, 2019 deadline for comments on a proposed accounting standards update (ASU) on how nonprofits handle goodwill and measure some intangible assets.

The update is titled “Intangibles — Goodwill and Other (Topic 350), Business Combinations (Topic 805), and Not-for-Profit Entities (Topic 958) Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities.”

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