Essentials of Accounting for Governmental and Not-for-Profit Organizations 10th Edition by Paul Copley, John Engstrom

Exercise 4

Consider FASB standards for mergers and acquisitions by not-for-profit organizations. Answer the following questions:
a. What is the difference between a merger and an acquisition
b. What is the principal difference in the accounting treatment of assets and liabilities under mergers and acquisitions
c. Under what circumstances may a not-for-profit organization record goodwill