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9.2A Principal sources of industry-specific GAAP (prior to adoption of ASU 2016-01)
Publication date: 27 May 2020
us NFP guide
ASC 958 contains extensive NFP-specific guidance on accounting for investments. In certain respects, this guidance differs significantly from the guidance applied by most business entities. This is due in part to an NFP’s use of a single, voting interest model for assessing consolidation of related entities (i.e., NFPs are not subject to the variable interest entity guidance in ASC 810), and due partly to specialized guidance developed for donor-restricted endowment funds (i.e., donor gifts that require investment in perpetuity).
This section provides brief summaries of the investment accounting subsections contained within ASC 958-810 and ASC 954-810.
PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.
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