FASB issues new accounting standards for business combinations.
Accounting Standard Codification Topic 958 (formerly Financial Accounting Standards Board Statement No. 164), Not-for-Profit Entities: Mergers and Acquisitions, applies to mergers and acquisitions as early as Jan. 1, 2010, for calendar-year entities. Not-for-profit organizations need to move to fair value accounting, with a focus on the valuation of intangible assets. Noncompliance could cause a hospital's auditors to issue a qualified report, which could lead to difficulties obtaining bank and bond financing.
Heuer
Christian
C
Crowe Horwath LLP, Nashville, Tenn, USA. christian.heuer@crowehorwath.com
Travers
Mary Ann K
MA
D000066:Accounting / Q000592:standards*; D000068:Accreditation / Q000592:standards; D003284:Contract Services / Q000458:organization & administration; D005377:Financial Management, Hospital / Q000191:economics / Q000458:organization & administration* / Q000592:standards; D006273:Health Facility Merger / Q000191:economics / Q000458:organization & administration* / Q000592:standards; D006801:Humans; D007256:Information Systems / Q000458:organization & administration; D018973:Intellectual Property; D009939:Organizations, Nonprofit / Q000191:economics / Q000458:organization & administration* / Q000592:standards