While the accounting framework for business combinations and asset acquisitions has been in place for several years, the application of the framework continues to evolve. Precise and careful steps must be taken when applying them to current transactions. It also remains vital to understand how goodwill arises from a business combination. In this webinar, we will discuss these continuing changes in business combination transactions, as well as goodwill impairment testing.
 

AGENDA HIGHLIGHTS

•  Overview
    – Definition of a business and a business combination

•  Improving the Accounting for Asset Acquisitions & Business Combinations—Initial Deliberations
    – Definition of a business combination

•  Regulatory Summary—Goodwill

•  Goodwill Impairment Test after the Adoption of ASU 2017-04
    – Key provisions
    – Goodwill impairment model (qualitative and quantitative assessments)
    – Effective date and transition

•  Identifiable Intangible Assets & Subsequent Accounting for Goodwill—Initial Deliberations

•  SEC Updates—Business Acquisitions & Comment Letter Trends
    – SEC Rulemaking
       – Measuring significance
       – Acquired financial statements
       – Pro forma financial information
       – Other key changes
    – Comment letter themes—business combination
       – Business combination vs. asset acquisition
       – Determining the accounting acquirer
       – Assigning amounts to assets and liabilities
       – Contingent consideration
       – Disclosures
    – Comment letter themes—impairments of goodwill and other long-lived assets
       – MD&A disclosures
       – Reporting units
       – Interim impairment tests

•  Considerations Related to COVID-19 & an Economic Downturn
    – Budgets and forecasts
    – Long- and indefinite-lived asset impairments
    – The impact of COVID-19 on impairment testing

•  Acquisition Accounting Overview
    – Identify acquirer
    – Determine acquisition date
    – Recognize and measure assets acquired and responsibilities assumed
    – Recognize and measure goodwill or bargain purchase gain

LEARNING OBJECTIVE  To provide accountants and other financial professionals with a thorough understanding of the accounting rules for business combinations.

While the accounting framework for business combinations and asset acquisitions has been in place for several years, the application of the framework continues to evolve. Precise and careful steps must be taken when applying them to current transactions. It also remains vital to understand how goodwill arises from a business combination. In this self-study webinar, we will discuss these continuing changes in business combination transactions, as well as goodwill impairment testing.
 

AGENDA HIGHLIGHTS

•  Overview
    – Definition of a business and a business combination

•  Improving the Accounting for Asset Acquisitions & Business Combinations—Initial Deliberations
    – Definition of a business combination

•  Regulatory Summary—Goodwill

•  Goodwill Impairment Test after the Adoption of ASU 2017-04
    – Key provisions
    – Goodwill impairment model (qualitative and quantitative assessments)
    – Effective date and transition

•  Identifiable Intangible Assets & Subsequent Accounting for Goodwill—Initial Deliberations

•  SEC Updates—Business Acquisitions & Comment Letter Trends
    – SEC Rulemaking
       – Measuring significance
       – Acquired financial statements
       – Pro forma financial information
       – Other key changes
    – Comment letter themes—business combination
       – Business combination vs. asset acquisition
       – Determining the accounting acquirer
       – Assigning amounts to assets and liabilities
       – Contingent consideration
       – Disclosures
    – Comment letter themes—impairments of goodwill and other long-lived assets
       – MD&A disclosures
       – Reporting units
       – Interim impairment tests

•  Considerations Related to COVID-19 & an Economic Downturn
    – Budgets and forecasts
    – Long- and indefinite-lived asset impairments
    – The impact of COVID-19 on impairment testing

•  Acquisition Accounting Overview
    – Identify acquirer
    – Determine acquisition date
    – Recognize and measure assets acquired and responsibilities assumed
    – Recognize and measure goodwill or bargain purchase gain