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This course provides an in-depth 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, Business Combinations.  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.  Note that this course reflects changes issued through ASU No. 2017-01.    

Learning Objectives

  • Identify the definition of a business as it relates to a business combination transaction.
  • Explore the steps involved in the acquisition method.
  • Identify the acquisition date for a business combination.
  • Recognize principles and exceptions in the measurement of assets and liabilities of a business combination.
  • Discover and differentiate between the various categories of intangible assets.
  • 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.
  • Identify the relief afforded to private entities with respect to accounting for business combinations.
  • Discover and differentiate between measurement principles of business combinations and asset acquisitions.
Last updated/reviewed: May 14, 2022

8 Reviews (40 ratings)Reviews

5
Anonymous Author
Good course on business combinations. There is quite a lot to consider and this course offers a deep dive into combos.
4
Member's Profile
Helps understands the basic of business acquisitions and lays out the steps necessary to apply the acquisition method.
5
Anonymous Author
This course was very helpful in reviewing and understanding the specifics involved with business combinations.
4
Anonymous Author
Comprehensive materials, but not very well organized. Difficult to thoroughly understand, too wordy.
5
Member's Profile
The course has detailed content and can be used for reference while applying ASC 805 in practice.
5
Member's Profile
Handout and the course tools were very easy to understand the material
3
Anonymous Author
Text based course that covers the topic of business combinations.
5
Member's Profile
Good course material, and the course was well organized.

Prerequisites

Course Complexity: Intermediate

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
SUPPORTING MATERIAL
  PDFAccounting for Business Combinations
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM