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Not-for-profit entities (NFPs) face various challenges in applying the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820, Fair Value Measurement, which codifies FASB Statement No. 157, Fair Value Measurements. To assist practitioners, the AICPA has issued a white paper, Measurement of Fair Value for Certain Transactions of Not-for-Profit Entities.
The white paper discusses fair value measurement for the following types of transactions:
Many of the challenges that NFPs encounter result from the fact that markets do not exist for these assets and liabilities. The white paper addresses, among other things, the following:
AICPA members can access the white paper at no cost by logging in to the Financial Reporting Center of the AICPA Web site at www.aicpa.org/FRC by clicking here or you can add this product to your cart and download a free copy using the standard checkout process.
Non-members can purchase a PDF of the paper at a cost of $15.25 by adding it to your cart below. This product is an electronic download file that will be accessible immediately after completing your purchase. Access to this file – from the My Download page – expires 90 days from purchase date.
Please note this product purchase is non-refundable. For more information about this product or service concerns, please contact the AICPA Service Center at firstname.lastname@example.org or call 888-777-7077.