Business Combinations - Recognizing and Measuring Key Assets and Liabilities (Course Id 2528)

• Who is this course for?
  This course is designed for anyone needing Continuing Professional Education (CPE), particularly CPAs and accountants seeking to understand business combination accounting under ASC 805.

• What is this course about or what problem does this course solve?
  The course addresses the accounting and reporting requirements for recognizing and measuring key assets and liabilities in business combinations, ensuring compliance with ASC Topic 805.

• How can the knowledge from this course be used?
  Learners can apply this knowledge to accurately identify and measure assets acquired, liabilities assumed, and noncontrolling interests in business combinations using the acquisition method.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  Understanding the complexities of business combinations is crucial for accurate financial reporting and regulatory compliance, which are essential responsibilities for CPAs and accountants.

• When is this course relevant or timely?
  The course is especially timely for professionals involved in mergers and acquisitions or financial reporting, and it reflects current standards as of its 2025 release and April 2025 revision.

• How is a course like this consumed or used?
  This is a NASBA QAS self-study text-based course, completed independently online, with review questions and a final exam requiring a minimum score of 70% for CPE credit.

This course provides a comprehensive overview of the accounting and reporting requirements for recognizing assets and liabilities in business combinations, as prescribed by ASC Topic 805. It focuses on the key principles and methodologies for identifying and measuring the assets acquired, liabilities assumed, and any noncontrolling interest in the acquiree. 

NASBA QAS - Text - NASBA Registry - 2528

Course Learning Objectives

• Identify the steps within the acquisition method for business combinations
• Identify overall recognition conditions for intangible assets
• Distinguish between different categories of intangibles assets
• Identify overall measurement principles including specific exceptions
• Recognize the accounting alternative available for private and not-for-profit entities

Chapter 1 - Business Combinations - Recognizing and Measuring Key Assets and Liabilities

Course Learning Objectives

Course Overview

Introduction

Is it a Business Combination?

Understanding The Acquisition Method

Recognizing/Measuring Identifiable Assets & Liabilities

Classifying or Designating

Review Questions

Recognition of Assets Acquired and Liabilities Assumed

Exceptions to the Recognition Principle

Measurement of Assets Acquired and Liabilities Assumed

Review Questions

Exceptions to the Measurement Principle

Measurement Period Adjustments

Subsequent Measurement

Accounting Alternatives for Private & NFP Entities

Conclusion

Review Questions

Glossary of Key Terms