Nonprofits


 
FASB issued proposed staff position 94-3-a and AAG HCO-a, Omnibus Changes to Consolidation and Equity Method Guidance for Not-for-Profit Organizations . The proposed staff position makes several changes to the guidance on consolidation and the equity method of accounting in the AICPA Statement of Position 94-3, Reporting of Related Entities by Not-for-Profit Organizations , and the AICPA Audit and Accounting Guide, Health Care Organizations . The proposed changes are designed to simplify and improve the existing guidance by making it more consistent between the two standards.

If approved, the guidance would be effective for fiscal years beginning after June 15, 2008. The staff position is available at www.fasb.org/fasb_staff_positions/prop_fsp_sop94-3-a&aag_hco-a.pdf .

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