Advanced Financial Reporting: Accounting for Business Combinations and Preparation of Consolidated Financial Statements
By External Provider
About this course
This course covers the accounting for business combinations (ASC 805), the preparation of consolidated financial statements (ASC 810), and other related topics including, but not limited to: step-by-step acquisition, deconsolidation, segments reporting, and the goodwill impairment test. This course begins with a discussion of the scope of ASC 805 and the differences between business combinations and asset acquisitions. Next, the course explores the measurement and recognition principles of the acquisition method to account for business combinations. Then, the course covers the consolidation process. You will learn how to prepare the consolidated financial statements and make all of the necessary consolidation adjustments.
What you will learn
- Distinguish between business combinations and asset acquisition transactions.
- Calculate goodwill or gain from bargain purchase on the acquisition date.
- Distinguish between taxable and nontaxable assets separately from goodwill on the acquisition date.
- Use the acquisition method to account for business combinations and understand its recognition and measurement principles.