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: August 9, 2023
33 Reviews (131 ratings)

Reviews

5
Anonymous Author
This course is a good primer for new acountants and is also useful for those who have been in the profession for years but have not been involved in the accounting for business combinations often or at all.

5
Anonymous Author
This is an easy read about a complicated topic. The instructor clearly laid out the concepts and easily identified differences in treatments, such as business combination vs asset acquisition.

5
Anonymous Author
Overall the course provides a great overview for business combinations. Material is easy to read and digest. Recommend for a general knowledge learning of business combinations.

5
Member's Profile
Great course, great material, definitely a stretch to read through it all and do all questions in 4 hours but the questions were super fair and the PDF was easy to navigate.

5
Anonymous Author
good overview of ASC 805, reinforcing key concepts in the guidance. Good inclusion of review questions in course materials

5
Member's Profile
This one was fun. Things you wouldn't necessarily deal with and you're tested on the different situations and criteria.

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.

4
Anonymous Author
Nice review of business combinations. I liked that the author included references and examples for each disclosure.

5
Anonymous Author
This course was very helpful in reviewing and understanding the specifics involved with business combinations.

5
Anonymous Author
Accounting for Business Combinations is one of the more complex accounting areas. Does a good gob summarizing.

5
Member's Profile
Very clear and concise course for assessing business combinations. Easy to follow the guidance as defined

4
Anonymous Author
Comprehensive materials, but not very well organized. Difficult to thoroughly understand, too wordy.

5
Anonymous Author
Informative course with good reminders of topics and principles not dealt with on an ordinary basis.

5
Member's Profile
The course has detailed content and can be used for reference while applying ASC 805 in practice.

4
Member's Profile
I thought this was an interesting course. Added value to a lot of the M&A work I am involved in.

5
Member's Profile
Helpful course that provides additional detail and examples in the PDF for business combinations.

5
Member's Profile
This course covers a lot of really good material related to business combinations. Very helpful.

5
Anonymous Author
Interesting content, final exam was a bit challenging but helped me retain the information.

4
Member's Profile
Great course: Accounting for Business Combinations (Text Based Course). Ton of great info.

5
Member's Profile
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5
Anonymous Author
This was a a very technical class. I enjoyed the detail supported with guidance.

5
Anonymous Author
Great course that describe the basics of accounting for business combinations.

5
Anonymous Author
Great course; loved revisiting the business combination guidance and concepts

5
Member's Profile
Thorough materials make this an interesting and detailed course.Thank you!

5
Member's Profile
Lots of information to read but the flow of the information makes sense.

5
Member's Profile
Handout and the course tools were very easy to understand the material

4
Anonymous Author
nice refresher of business combination and asset acquisition concepts.

3
Anonymous Author
Text based course that covers the topic of business combinations.

4
Anonymous Author
Subject not well versed in before the course and the exam.

5
Member's Profile
Good course material, and the course was well organized.

5
Anonymous Author
I enjoyed this course, and I found it very informative

5
Anonymous Author
Good overview - distinctions were easy to understand

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 .
Instructor for this course
Course Syllabus
SUPPORTING MATERIAL
  Accounting for Business CombinationsPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam