Overview:
The rules for business combinations and consolidations are complex. To ensure financial statement compliance, financial professionals must possess a firm grasp of these rules. In this targeted accounting seminar, you will:
- Review accounting and reporting for acquisitions, consolidations and noncontrolling interests
- Learn to recognize and record acquisitions appropriately
- Analyze differences between separable and legal/contractual intangibles and goodwill
- Understand changes to the goodwill impairment test and use of qualitative factors
- Hear about the impact of COVID-19
Objective:
To provide accountants with a thorough understanding of the accounting rules for business combinations and intangibles. This seminar will use real-world examples to show you how to put the rules into practice.
Emphasis:
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Financial statement impact of the business combination rules
– Fair value
– Contingent consideration and liabilities
– Transaction costs and in-process R&D
– Step acquisitions and the cost-accumulation model - Accounting, valuation and disclosures for noncontrolling interests, and those under common control
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Accounting for acquisitions
– Determining the acquirer
– Value recognition
– Disclosures -
Goodwill and other intangible assets
– Amortizable and nonamortizable assets
– Separating goodwill from other intangibles
– Determining goodwill and negative goodwill
– Amortization, impairment and valuation issues
– Goodwill impairment—the latest on reporting units, testing, qualitative factors and special exceptions - Consolidation requirements (ASC 810), including triggers for Variable Interest Entities
- Clarifying the definition of a business—what qualifies to consolidate and what doesn’t
- Push down accounting
- FASB Simplification Initiative: impact on financial statements
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The impact of COVID-19