Recognizing assets acquired and liabilities assumed in a business combination is a critical step in applying the acquisition method process to business combinations. This step is also one of the more significant steps involved in a business combination transaction. Given the importance of the recognition of assets and liabilities in a business combination, it's critical that you have a good understanding of the principles and requirements related to this step in the process. This course provides an in-depth overview of this step based on the standards prescribed by Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 805 ("Business Combinations")
Learning Objectives
Upon completion of this course, you will be able to:
Identify the steps within the acquisition method for business combinations
Identify overall recognition conditions for intangible assets
Distinguish between different categories of intangibles assets
Recognize the accounting alternative available for private and not-for-profit entities
Identify overall measurement principles including specific exceptions
Major Topics
Applying the Acquisition Method
Recognizing and Measuring Assets & Liabilities
Recognition Conditions
Recognition of Specific Assets Acquired and Liabilities Assumed
Intangible Assets
Accounting Alternative for Eligible Entities
Leases Acquired
Exceptions to the Recognition Requirement
Measuring Assets Acquired and Liabilities Assumed
Measurement Principle Exceptions
