Use Landscape to see Search/Filter
Item Types:
Field of Study:
CPE Hours:
Course Details

Business Combinations and Consolidated Financial Reporting - v12 (Course Id 883)

Updated / QAS / Registry
  Add to Cart 
Author : Jae K. Shim, Ph.D., CPA
Course Length : Pages: 39 ||| Review Questions: 22 ||| Final Exam Questions: 20
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 :

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 the application 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.

Usage Rank : 0
Release : 2022
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 10-Jan-2023
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, v12, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

After studying this course, you 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
Course Contents :

Chapter 1: Business Combinations

Major Principles

Overview of Accounting Standards

Structure of a Combination

Pushdown Accounting

Determination of a Business

General Rules

Elements of a Business

Definition of a Business

Comprehensive Illustrations: Business Determination

Acquisition of Brands

Acquisition of Loan Portfolio

Acquisition of a Manufacturing Facility

Acquisition Method

General Rules

Other Considerations

Treatment of Goodwill Postacquisition

General Rules

Impairment Model

Goodwill Alternative

Chapter 1 Review Questions - Section 1

Other Matters

Contingent Consideration


Comprehensive Illustration: Business Combination Accounted for Under the Acquisition Method

Chapter 1 Review Questions - Section 2

Chapter 2:  Consolidated Financial Reporting

Major Principles

Overview of Accounting Standards

Special Purpose Entities


Variable Interest Entities

Determination of a Primary Beneficiary

Fees Arrangement

Private Companies

Noncontrolling (Minority) Interests

Presentation and Disclosures

General Rules



Comprehensive Illustration: Consolidation

Chapter 2 Review Questions - Section 1

Other Matters

Combined Financial Statements

Transfers of Financial Assets (ASC 860)

Chapter 2 Review Questions - Section 2

Appendix: WarnerMedia-Discovery Merger


CPE Accounting Course: https://www.cpethink.com/accounting-cpa-courses
Thank you for taking one of our free courses. We would like to be able to let you know when we add free courses or have special offers and will never spam you or share your address with anyone. If you are Ok with that please reply with "Ok" or if not please reply "No Thanks". Either way enjoy your free CPE course.
Exam completed on .

Do you want to add the course again?