This course provides an overview of determining whether an acquisition should be accounted for as a business combination or simply as an acquisition of assets. This includes a focus on whether substantially all of the fair value of the gross assets acquired are concentrated in a single identifiable asset or a group of similar identifiable assets.

This course also provides several comprehensive examples which walk through the application of the respective accounting guidance.

Learning Objectives
  • Recognize key differences between assets acquisitions and business combinations.
  • Identify the factors considered in determining whether an acquisition is a business combination.
  • Recognize if substantially all of the fair value of an acquisition is concentrated in a single asset or group of similar assets.
  • Identify indicators of an organized workforce.
Last updated/reviewed: January 23, 2023
5 Reviews (20 ratings)


Anonymous Author
Reading FASB, ASC and ASU always require careful reading. This course material was clear in the meanings of a definition of a business as contrasted with assets.

Anonymous Author
The course adequately described the difference between a business and an asset regarding a direct purchase.

Anonymous Author
This is a good overview; I have been a part of a business acquisition as well as asset acquisition.

Anonymous Author
This was a good, simple refresher course for folks who work at acquisitive companies.

Member's Profile
I love the examples provided. It clearly demonstrated the differences.

Course Complexity: Foundational
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
  Know the Differences Between an Asset Acquisition vs. Business Combination (Text Based Course)PDF