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2016

August 5, 2016 — FASB Issues Proposed Amendments to Consolidation Guidance for Not-for-Profit Entities

FASB Issues Proposed Amendments to Consolidation Guidance for Not-for-Profit Entities

Accounting Journal Entry
August 5, 2016
On August 3, 2016, the FASB issued a proposed Accounting Standards Update1 (ASU) that would amend the consolidation guidance to clarify when a not-for-profit entity (NFP) that is a general partner should consolidate a for-profit limited partnership or similar legal entity. Comments on the proposed ASU are due by October 3, 2016.

Footnotes