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recording of the business combination and subsequently accounted for separately from goodwill.

      • iii.

        The entity shall write off and recognize in earnings the amount of any unamortized deferred credit related to an excess over cost arising from either a business combination accounted for before applying FASB Statement No. 141 (Revised 2007) or an investment accounted for by the equity method before applying that Statement.

    • 4.

      A mutual entity must apply FASB Statement No. 142 in its entirety for goodwill and intangible assets acquired in a business combination as of the beginning of the first annual reporting period beginning on or after December 15, 2008. Therefore, it should follow the transitional goodwill impairment testing guidance in FASB Statement No. 142 for previously recognized goodwill, as adjusted in accordance with (c) (3) of this paragraph. Additionally, the provisions of Subtopic 360-10 apply to long-term customer- relationship intangible assets, except for servicing assets, recognized in the acquisition of a financial institution. Examples of long-term customer-relationship intangible assets include depositor- and borrower-relationship intangible assets, credit cardholder intangible assets, and servicing assets. Servicing assets, however, are accounted for in accordance with Subtopic 860-50.

    • 5.

      Other than as set forth in this paragraph, the amount of the purchase price assigned to the assets acquired and liabilities assumed in a business combination for which the acquisition date was before FASB Statement No. 141 (Revised 2007) is applied shall not be changed. However, this paragraph does not affect the requirement to change the amounts assigned to the assets acquired in a business combination for which the acquisition date was before that Statement is applied because of the resolution of a consideration contingency based on earnings (see paragraph 28 of FASB Statement No. 141) or changes to the purchase price allocation before the end of the allocation period (see paragraph 40 of FASB Statement No. 141).

  • d.

    A not-for-profit entity (NFP) shall account for an acquisition by a not- for-profit entity by applying the acquisition method as described in Topic 805 and the guidance unique to or especially significant to an NFP in Subtopic 958-805, which includes identification of the guidance within the Subtopics of Topic 805 that is not applicable to NFPs. A not- for-profit business-oriented health care entity also shall apply the incremental guidance in Subtopic 954-805. NFPs shall apply the guidance in Subtopics 805-10, 805-20, and 805-40 using the effective date and transition requirements of paragraph 958-805-65-1.

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