Business Combinations and Consolidated Financial Reporting
Field of Study:
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 new 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
definition of a business, simplifying the test for goodwill impairment, and private company goodwill alternative.
This course emphasizes both the theory and practice relating 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.
After completing this course you will be able to:
- Recognize the accounting and reporting requirements for a business combination using the acquisition method
- Recognize when financial statement consolidation is appropriate
- Identify how consolidation is reported and disclosed
- Calculate different valuations recorded in a combined financial statement
Type of delivery method:
Recommended CPE credits:
Final examination expiration date:
The program participant will have one year from the date of purchase to complete the course and final examination.
Web CPE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org