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Guide to Business Combinations, Goodwill, and Other Consolidation Issues

Author/Moderator: J. Russell Madray, CPA, CIA, CMA, The Madray Group, Inc.
Publisher: AICPA
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What are the appropriate methods of accounting for business combinations? What are the correct treatments of accounting for noncontrolling interests, goodwill accounting, and variable interest entities? Get the answers and learn when and how to present consolidated or combined financial statements. Find out what triggers consolidation, how to apply acquisition accounting, and learn fair value determination and valuation concepts. Learn about how to account for goodwill, from initial recognition of the asset to the annual goodwill impairment review.

Topics Discussed

  • Structure of business combinations
  • Applying the acquisition method
  • Consolidated financial statements
  • Accounting for noncontrolling interests
  • Accounting for goodwill and other intangible assets
  • Combined financial statements
  • Not-for-profit issues
  • Variable interest entities

Learning Objectives:
When you complete this course you will be able to:

  • Identify criteria of when to consolidate entities.
  • Explain the consolidation requirements for variable interest entities.
  • Describe accounting entries and disclosures relating to business combinations and goodwill impairment.
  • Outline procedures for creating processes relating to annual goodwill impairment review.

Prerequisite:  Basic understanding of consolidation principles

Advanced Preparation:  None

NASBA Field of Study: Accounting
Level: Intermediate
Recommended CPE Credit: Text, 8; On-Demand, 7
Guide to Business Combinations, Goodwill, and Other Consolidation Issues
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Product# 163180
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