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: August 18, 2023
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2 Reviews (31 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.
5
Member's Profile
Great overview of ASC 805 including important reminders about key business combination terms, concepts, and accounting methodologies.
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 .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Accounting for Business Combinations4:08
  The Acquisition Method-Step1 till Step 310:06
  Intangible Assets Classifications5:55
  REVIEW QUESTIONSquiz
  Measuring Assets Acquired and Liabilities Assumed6:58
  The Acquisition Method-Step 46:46
  Financial Statement Disclosures and Conclusion3:16
  REVIEW QUESTIONSquiz
CONTINUOUS PLAY
  Accounting for Business Combinations37:09
SUPPORTING MATERIAL
  Slides: Accounting for Business CombinationsPDF
  Accounting for Business Combinations Glossary/ IndexPDF
REVIEW AND TEST
 FINAL EXAMexam