Description:
The accountant is frequently called upon to advise management of the impact of proposed combinations, as well as to prepare consolidated financial statements for completed transactions. Knowledge of the emerging accounting rules in this area is critical in supporting both functions. This course explains the characteristics of a business and identifies transactions required the application of business combination accounting, which refers to acquisition method in ASC 805, Business Combinations. This course also explains how to apply the consolidation guidance in ASC 810, Consolidation.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

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Author: Delta Publishing

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Publication Date: 05/17/2022

Technical Details: Accounting: Technical

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Objectives:
1. Recognize major principles in a business combination and consolidations
2. Identify events that require the application of business combination accounting
3. Recognize how to account for transactions under the acquisition method
4. Identify considerations for noncontrolling interests
5. Recognize when financial statement consolidation is appropriate
6. Recognize how consolidation is reported and disclosed

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NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

Profession Identifiers : CPA, CMA