How Much Is Goodwill Worth? FASB Allows Nonprofits to Use Simpler Report
The Financial Accounting Standards Board (FASB) released an accounting standard on May 30, 2019, that allows nonprofit organizations to use simpler, less expensive techniques available to private companies to report goodwill and certain identifiable intangible assets. The recent update is effective immediately. It’s intended to provide donors and other financial report users with more comparable information on how certain kinds of acquired intangible assets fared in the long run following a merger and acquisition (M&A) transaction.