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Course Details

Business Combinations - U.S. GAAP and IFRS (Course Id 1934)

QAS / Registry
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Author : Kelen Camehl, CPA, MBA
Course Length : Pages: 14 ||| Review Questions: 3 ||| Final Exam Questions: 5
CPE Credits : 1.0
IRS Credits : 0
Price : $12.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 1934

Description :

This course provides an overview of the similarities and key differences between the business combination standards issued by the FASB (ASC Topic 805) and the IASB (IFRS 3).  While these standards are very similar, as is the case with many areas of U.S. GAAP vs. IFRS, there are notable differences that are helpful to understand.  Note that this course is not intended to provide an exhaustive discussion of these differences.

Usage Rank : 0
Release : 2021
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 03-Jan-2022
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - 1934

Keywords : Accounting, Business, Combinations, US, GAAP, IFRS, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

Upon completion of this course, you will be able to:
  • List the key steps in the acquisition method for business combinations
  • Recognize the applicable U.S. GAAP and IFRS standard with respect to business combinations
  • Identify some of the key differences between ASC Topic 805 and IFRS 3
Course Contents :

Chapter 1 - Business Combinations - U.S. GAAP and IFRS

Course Learning Objectives

Course Overview

Introduction Importance of Understanding Differences

Overall Differences & Similarities between U.S. GAAP & IFRS

Business Combinations Overview

Definition of a Business

Step 1: Identifying the Acquirer

Step 2: Determining the Acquisition Date

Review Questions

Step 3: Recognizing and measuring the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree

Acquisition of Contingencies

Contingent Consideration


Noncontrolling Interests

Step 4: Recognizing and Measuring Goodwill or Gain from a Bargain Purchase


Measurement Period Adjustments

Review Questions

Glossary of Key Terms

CPE Accounting Course: https://www.cpethink.com/accounting-cpa-courses
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