At its weekly meeting on September 18, 2008, the Financial Accounting Standards Board will continue its discussions on mergers and acquisitions by a not-for-profit organization.

According to Action Alert 08-37, the Board will discuss the comment letters it received about its proposed guidance for distinguishing between a merger and an acquisition, as described in Exposure Draft (ED) No. 1500-100, Not-for-Profit Organizations: Mergers and Acquisitions.

The proposal reflects a Board decision that a merger should be accounted for by combining the carrying values of the merging organizations rather than by applying the acquisition method. The Board had sought input on the proposed criterion through its May 2008 request for additional comments (posted to the FASB website) and through field visits with various not-for-profit organizations.

The Board does not plan on reaching any formal decisions during the meeting.

If necessary, the Board will allow time to discuss minor issues with staff members on technical projects or administrative matters. No education sessions are planned for the week of September 15.

The Board last met on August 27.