PwC commented on the FASB proposal to change the presentation and disclosure requirements for nonfinancial assets contributed to a not-for-profit entity.
PwC has responded to a FASB exposure draft on the accounting for gifts in kind. The FASB’s proposal would require the presentation of contributed nonfinancial assets as a separate line item in the statement of activities. For each category of contributed nonfinancial assets, the FASB proposed a requirement to disclose:
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