PwC comments on extending PCC alternative for goodwill/intangibles to NFPs

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Comment letter , PwC US Feb 18, 2019

Changes could be coming for not-for-profit entities. See PwC’s thoughts on extending certain private company alternatives to NFPs.

Overview

PwC has responded to a FASB proposal that would extend the Private Company accounting alternatives for goodwill and certain identifiable intangible assets to not-for-profit (NFP) entities. NFPs would then be permitted to amortize goodwill over a life of 10 years or less.  An NFP entity would also be able to elect to subsume into goodwill certain customer-related intangible assets and all non-compete agreements in future acquisitions. PwC agrees with extending the goodwill alternative to NFPs but expressed concerns on extending the alternative for certain identifiable intangible assets to NFPs due to the unique nature of the NFP acquisition model.

Contact us

Heather Horn

Heather Horn

US Strategic Thought Leader, National Professional Services Group, PwC US

David Schmid

David Schmid

International Accounting Leader, National Professional Services Group, PwC US

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