BC62 The FASB also decided to exclude from the scope of SFAS 141(R) business combinations of not‑for‑profit organisations and acquisitions of for‑profit businesses by not‑for‑profit organisations. Some aspects of combinations of not‑for‑profit organisations are different from combinations of business entities. For example, it cannot be presumed that combinations of organisations that serve a public interest are necessarily exchange transactions in which willing parties exchange equal values. For that reason, the FASB is addressing the accounting for combinations of not‑for‑profit organisations in a separate project. It published an exposure draft in October 2006 that addresses accounting for combinations of not‑for‑profit organisations.
BC63 IFRSs generally do not have scope limitations for not‑for‑profit activities in the private or public sector. Although IFRSs are developed for profit‑oriented entities, a not‑for‑profit entity might be required, or ch
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