ASU 2010-07 — Not-for-Profit Entities (Topic 958)

This Accounting Standards Update amends the Accounting Standards Codification for the issuance of FASB Statement No. 164, Not-for-Profit Entities: Mergers and Acquisitions. The amendments in this Accounting Standards Update provide guidance on accounting for combinations of not-for-profit entities. Those transactions or other events include mergers of two or more not-for-profit entities and acquisitions by a not-for-profit entity that result in its initially recognizing another not-for-profit entity, a business, or a nonprofit activity in its financial statements.

Issued: January 28, 2010