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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.

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: November 22, 2020

3 Reviews (10 ratings)Reviews

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.

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
  PDFBusiness Combinations Overview
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM