Visit the FASB Web site at http://www.fasb.org/project/index.shtml. Select one Financial Accounting Standards Board Agenda project to write about and submit the issue that is the focus of the project, the project to be selected Mergers and Acquisitions by a Not-for-Profit Organization:
a. Describe the issue that is the focus of the project.
b. Identify whom the issue affects.
Take sides on the issue. One side should take the side that the project should move forward. The other side should take the side that the project is unnecessary.
Describe the issue that is the focus of the project.
The issue that is the focus of the project is the acquisition and mergers of not-for-profit organization. The project focuses on mergers between two or more not-for-profit organizations and the takeover of a for-profit organization by a not-for-profit organization. In addition the project will also pertain to the merger of two entities where there is no dominant entity. The issue is that the project will lay down the ground rules for accounting for the acquisitions of the assets in relation to the mergers mentioned above.
Identify whom the issue affects.
The issue affects not-for-profit organizations that are being taken over by another not-for-profit organization, those not-for-profit that are taking over a for profit organization and those not-for-profit mergers that do not have a dominant entity emerging.
On the other level the project affects the accountants and auditors of the ...
Financial Accounting Standards Board Agenda is discussed in great detail in this solution.