Author : | Jae K. Shim, Ph.D., CPA |
Status : | Production |
CPE Credits : | 4.0 |
IRS Credits : | 0 |
Price : | $35.95 |
Passing Score : | 70% |
Course Type: | NASBA QAS - Text - Technical - NASBA Registry |
Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 883 |
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 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 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. |
Usage Rank : | 0 |
Release : | 2020 |
Version : | 1.0 |
Prerequisites : | None. |
Experience Level : | Overview |
Additional Contents : | Complete, no additional material needed. |
Additional Links : |
IFRS 3 Business Combinations IAS Plus
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Advance Preparation : | None. |
Delivery Method : | QAS Self Study |
Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
Revision Date : | 02-Jan-2021 |
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 - 883 |
Keywords : | Accounting, Business, Combinations, Consolidated, Financial, Reporting, v10, cpe, cpa, online course |
Learning Objectives : |
Chapter 1
Chapter 2
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Course Contents : | Chapter 1: Business Combinations Learning Objectives Background Relevant Accounting Pronouncements General Rules Definition of Business Overview Key Concepts Forms of Business Combinations The Acquisition Method Accounting and Reporting Under the Acquisition Method Statutory Merger Statutory Consolidation Acquisition Treatment of Intangible Assets Definition of Goodwill under the Acquisition Method Treatment of Goodwill Chapter 1 Review Questions - Section 1 Income Statement Reporting Direct Combination Costs and Stock Issuance Costs Restructuring Costs Preacquisition Contingencies Contingent Consideration Pushdown Accounting Contrast of Acquisition Method with Purchase and Pooling of Interests Methods Steps to Accounting under the Acquisition Method Research and Development Costs Acquired as Part of a Business Combination Income Taxes Disclosures Chapter 1 Review Questions - Section 2 Chapter 2: Consolidated Financial Reporting Learning Objectives Relevant Authoritative Pronouncements Exceptions to Consolidation of Majority Owned Subsidiaries Steps to Achieve Consolidation Consolidation Worksheet Entries and Examples Comprehensive Consolidation Problem—Acquisition Method Consolidation of Noncontrolling (Minority) Interests Chapter 2 Review Questions - Section 1 Contrast of Acquisition and Purchase Methods for Noncontrolling (Minority) Interests Spin-Offs Consolidation Reporting—Other Topics Taxes Accounting for Transfers of Financial Assets (ASC 860) Accounting Treatment Variable Interest Entities (VIEs) Fair Value Option Relating to VIEs Private Companies Disclosure Disclosures Combined Financial Statements Chapter 2 Review Questions - Section 2 Appendix - Annual Report Reference International Business Machines Corporation Glossary |