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This course provides an overview of the accounting and reporting requirements with respect to business combinations as prescribed by Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 805. The overall objective of the guidance included within ASC 805 is to improve the relevance, representational faithfulness, and comparability of the information that a reporting entity provides in its financial reports about a business combination and its effects.

Learning Objectives

  • Identify the definition of a business.
  • Explore and list the steps involved in the acquisition method.
  • Identify the acquisition date for a business combination.
  • Recognize how to measure goodwill and gains from bargain purchases.
  • Identify the measurement period for business combinations.
  • Recognize financial statement disclosures related to business combinations.
Last updated/reviewed: May 23, 2022

1 Review (16 ratings)Reviews

5
Anonymous Author
Kelen is a great teacher, he makes these concepts very easy to understand and has a great attitude. The course is a high level overview of accounting for business combinations that is presented in an easy to understand way.

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  4:08Introduction to Accounting for Business Combinations
  10:06The Acquisition Method-Step1 till Step 3
  5:55Intangible Assets Classifications
  quizREVIEW QUESTIONS
  6:58Measuring Assets Acquired and Liabilities Assumed
  6:46The Acquisition Method-Step 4
  3:16Financial Statement Disclosures and Conclusion
  quizREVIEW QUESTIONS
CONTINUOUS PLAY
  37:09Accounting for Business Combinations
SUPPORTING MATERIAL
  PDFSlides: Accounting for Business Combinations
  PDFAccounting for Business Combinations Glossary/ Index
REVIEW AND TEST
 examFINAL EXAM