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.

Learning Objectives
  • Identify the definition of a business as it relates to a business combination transaction.
  • 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 15, 2023
15 Reviews (44 ratings)

Reviews

5
Anonymous Author
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.

5
Member's Profile
Very good course covering the accounting for business combinations. I was somewhat familiar with this material, and this course not only reinforced what I knew, but also introduced new concepts.

4
Anonymous Author
Solid course which helps build a foundational understanding of business combinations. Would likely be easier to digest, and more interesting, if it were an instructor-led program.

4
Member's Profile
Great basic course to provide a basic understanding of business combinations under topic 805. Would be better if it was not a text based course but an instructor led program.

4
Anonymous Author
Question 3 of the Final Exam seems to have the wrong answer as the 'correct' solution. Otherwise, the course material itself was very clear and easy to follow.

5
Anonymous Author
This was a great high level overview of business combinations and how to measure the value of assets and liabilities when acquired.

5
Anonymous Author
Another good course on business combinations and all of the things that one must know to properly disclose the correct information.

4
Anonymous Author
This was a helpful overview on business combinations. I had never gone through one before until now and needed a refresher.

5
Anonymous Author
The accompanying text was easy to navigate and understand. The material is relevant and comprehensive.

5
Member's Profile
A good way to brush up on business combination accounting, specifically the acquisition method steps.

4
Anonymous Author
Business Combinations Overview (Text Based Course) was a great course I really enjoyed it.

4
Member's Profile
provide general instruction and main concepts for business combination, very helpful

3
Member's Profile
Text was difficult to recognize the key points on a complicated subject

4
Member's Profile
This was an excellent review of GAAP related to business combinations.

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

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
COURSE MATERIAL
  Business Combinations OverviewPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam