Conduit Debt Obligations: Is Your Not-for-Profit Scoped In or Out of Accelerated Effective Dates? Clarification of Key Terms in the Definition of “Public Business Entity”
Not-for-profit entities (NFPs) with conduit bonds that meet certain characteristics are subject to the same effective dates and expanded disclosure requirements that certain FASB standards impose on public business entities. However, careful attention should be paid to FASB’s terminology, as not all conduit bonds fit the characteristics that subject NFPs to these requirements. This article