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, 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.
  • Discover 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: March 24, 2024
7 Reviews (43 ratings)

Reviews

4
Member's Profile
I have been through a few acquisitions both being acquired as well as purchasing other companies. This provides a great review of accounting concepts to consider.
5
Anonymous Author
The course was presented in the right amount of detail to provide informative information to a CPA wanting to gain a basic overall understanding of ASC 805.
4
Member's Profile
I usually do not do business combinations. I learned a lot about them in a short amount of time. This is a good course to understand the basics.
5
Anonymous Author
Another good course from this instructor. Good, detailed, discussion of accounting for business combinations.
4
Anonymous Author
Very good review of the Acquisition process of a business and the things that go along with it.
5
Anonymous Author
Helpful and clear PDF which is a good resource to have on had and refer to.
5
Anonymous Author
..............................................................
Prerequisites
Knowledge Level: Basic

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 courses@illumeo.com.
Instructor for this course
  Course Overview CPE
Course Syllabus
COURSE MATERIAL
  GAAP Hot Topics - What You Need to Know Chapter 1: Accounting for Business Combinations PDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam