Title: | Business Combinations and Consolidated Financial Reporting |
Category: | Accounting and Auditing |
Field of Study: | Accounting |
Course Code: | A018-0396 |
CPE Credits: | 4.0 |
Price: | $29.95 |
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Description:
This course reviews the two standards reflected in the Codification as ASC 805, Business Combinations, and ASC 810, Consolidation. These statements, which require prospective treatment for business combinations having fiscal years beginning after December 15, 2008, mandate what is referred to as the acquisition method. This course highlights recent FASB guidance in the definition of a business, simplifying the test for goodwill impairment, and private company goodwill alternative.
This course emphasizes both the theory and practice relating to the acquisition method standards. A comparison of old (e.g., poolings of interest and purchase methods) and acquisition method rules will prepare practitioners for dealing with the variety of practices they will encounter at their clients or employers. This course also addresses the preparation of consolidated financial statements, the appropriate treatment of the costs affecting a combination, and other related issues.
Delivery Method:
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: 03/03/2020
Technical Details: Accounting is a technical field of study.
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Objectives:
Chapter 1 Business Combinations
1. Analyze transactions under the new definition of a business
2. Recognize the accounting and reporting requirements for a business combination using the acquisition method
3. Recognize accounting alternative for goodwill available to private (nonpublic) companies
Chapter 2 Consolidated Financial Reporting
1. Recognize when financial statement consolidation is appropriate
2. Identify how consolidation is reported and disclosed
3. Calculate different valuations recorded in a combined financial statement
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