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 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.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize major principles in a business combination and consolidations
Identify events that require the application of business combination accounting
Recognize how to account for transactions under the acquisition method
Identify considerations for noncontrolling interests
Recognize when financial statement consolidation is appropriate
Recognize how consolidation is reported and disclosed
Major Topics
Business Combinations
Consolidated Financial Reporting
