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What You Need to Know About Accounting for Business Combinations

Author/Moderator: Teresa D. Thamer, CPA, CFE
Publisher: AICPA
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Description

Ideal for self-study or on-site training!

CPAs in business and industry, valuation, and public practice who are involved with mergers, acquisitions, and change of ownership will need to understand the effects of SFAS 141(R), Business Combinations, on financial reporting and valuation. Affecting all industries, the standard adds more stringent requirements but retains much of the guidance of SFAS 141 to further the integration of fair value measurements into the balance sheet and the international convergence of accounting standards.

Objectives: 
  • Understand the broader definition of a business
  • Learn how to recognize and measure the identifiable assets acquired, the liabilities assumed and any noncontrolling interest in the acquiree
  • Understand and comply with SFAS 160, Noncontrolling Interests in Consolidated Financial Statements—an amendment of ARB No. 51
  • Identify best practices for implementing the standards

PREREQUISITE: Basic understanding of accounting principles

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In this video, Teresa D. Thamer, CPA, CFE, Associate Professor at Breneau University in Gainesville, GA, discusses SFAS 141(R) with Philip J. Santarelli, CPA, Principal and Director of Assurance Services at Parente Randolph in Philadelphia, PA; Stefanie Tamulis, CPA, Senior Manager, Accounting Standards & Communications at Deloitte & Touche LLP in Wilton, CT and former Project Manager at the FASB; and Mark L. Zyla, CPA/ABV, CFA, ASA, Managing Director of the Atlanta-based CPA firm of Acuitas, Inc.

*(114-min. video) The DVD disk contains the video presentation and a viewable copy of the Manual.
**The Additional Manual is for group study training only. Unlike other formats, it has no exam answer sheet and cannot be used to earn self-study credit.

Table of Contents

  • Chapter 1 - Overview of Accounting For Business Combinations
    • Learning Objectives
    • Introduction
    • Background - the Role of Control in U.S. GAAP
    • The Purpose and Objectives of the Revised Statement
    • The Role of Convergence in Issuing the Revised Statement
    • The Current Status of FASB Accounting Standards Codification
    • The Influence of the SEC and Other Regulators
    • Summary
    • Review Questions
    • Answers To Review Questions
  • Chapter 2 - Introduction to SFAS No. 141(R), Business Combinations
    • Learning Objectives
    • Introduction
    • Scope of the Statement and Definition of a Business Combination
    • Key Terms Used in SFAS No. 141(R)
    • Definition of a Business
    • Identification of the Acquirer and the Acquiree
    • Summary
    • Review Questions
    • Answers to Review Questions
  • Chapter 3 - The Acquisition Method
    • Learning Objectives
    • Introduction
    • The Acquisition Method
      • Step 1: Identifying the Acquirer
      • Step 2: Determining the Acquisition Date
      • Step 3: Recognizing and Measuring the Identifiable Assets Acquired, the Liabilities Assumed, and Any Noncontrolling Interest in the Acquiree
        • The Recognition Principle
        • The Measurement Principle – Initial Measurement
    • Exceptions to the Principles
      • Income Taxes
      • Employee Benefits
      • Indemnification Assets
    • Step 4: Recognizing and Measuring Goodwill or a Gain from a Bargain Purchase
    • Consideration and Contingent Consideration
      • Consideration Transferred
      • Contingent Consideration
    • Other Issues
      • Acquisition-related and Other Costs
      • Step or Partial Acquisitions
      • Subsequent Measurement and Accounting
      • Required Rights
      • Assets or Liabilities Arising from Acquisition-Date Contingencies
      • Indemnified Assets
      • Contingent Consideration
    • Summary
    • Review Questions
    • Answers to Review Questions
  • Chapter 4 - Goodwill and Intangible Assets
    • Learning Objectives
    • Introduction
    • Recognition of Goodwill
    • Recognition of Intangible Assets Separately from Goodwill
    • Examples of Identifiable Intangible Assets
    • Items That Are Not Identifiable
    • Fair Value Measurements in a Business Combination
      • The Market Approach
      • The Income Approach
      • The Cost Approach
    • IPR & D
    • Assets the Acquirer Does Not Intend to Use
    • Summary
    • Review Questions
    • Answers to Review Questions
  • Chapter 5 - Disclosures Required for Business Combinations
    • Learning Objectives
    • Introduction
    • Required Disclosures for Business Combinations
    • Effective Date and Transition
    • Summary
    • Review Questions
    • Answers to Review Questions
    • Appendix A: Implications of FAS 141(R)
  • Chapter 6 - SFAS No. 160, Noncontrolling Interests in Consolidated Financial Statements
    • Learning Objectives
    • Introduction
    • Objective and Scope
    • Key Terms Used in SFAS No. 160
    • Key Points of the Statement
      • Accounting and Presentation
      • Changes in Ownership and Deconsolidation
      • Expanded Disclosures
      • Effective Date and Transition
    • Summary
    • Review Questions
    • Answers to Review Questions
    • Appendix A: Summary of Accounting for Changes in Ownership Interests
    • Appendix B: Summary of Changes in Key Provisions
  • Chapter 7 - Implementation Issues
    • Learning Objectives
    • Introduction
    • Issues Surrounding SFAS No. 141(R) and SFAS No. 160
    • Other Areas
    • Available Resources
    • Summary
    • Review Questions
    • Answers to Review Questions
    • BDO Client Advisory: New Accounting for M&A Affects Earnings and Deals
    • What you need to know about the new accounting standards affecting M&A deals
  • Statement of Financial Accounting Standards No. 141 (revised 2007) Business Combinations
  • Statement of Financial Accounting Standards No. 160, Noncontrolling Interests in Consolidated Financial Statements, an amendment of ARB No. 51
  • Glossary
  • Index
  • Examination for Self-Study Credit

182000

Excerpts

Videocourse Details

NASBA Field of Study: Accounting
Level: Basic
Recommended CPE Credit: 13
What You Need to Know About Accounting for Business Combinations
DVD/Manual ,
Product# 182000
Availability:In Stock
Regular:$243.75
AICPA Member:$195.00
Your Price:$243.75
What You Need to Know About Accounting for Business Combinations
Addl Text/Manual for DVD
Product# 352000
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AICPA Member:$55.00
Your Price:$68.75
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