Comment: Supporting FASB allowing NFPs to amortize goodwill

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Grant Thornton submitted a comment letter to the FASB on their proposal to allow not-for-profits to elect to amortize goodwill. The letter comments on the FASB’s proposed Accounting Standards Update, Intangibles – Goodwill and Other (Topic 350), Business Combinations (Topic 805), and Not-for-Profit Entities (Topic 958): Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities.

Grant Thornton’s support for the ASU in general, is followed by responses to various issues related to the proposals for not-for-profits.

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