Business Combinations and Consolidated Financial Reporting - 2022 (Text Based)

The accountant is frequently called upon to advise management of the impact of proposed combinations, as well as to prepare consolidated financial statements for completed transactions. Knowledge of the emerging accounting rules in this area is critical in supporting both functions. This course explains the characteristics of a business and identifies transactions that required the application of business combination accounting, which refers to the acquisition method in ASC 805, Business Combinations. This course also explains how to apply the consolidation guidance in ASC 810, Consolidation.

Learning Objectives:

1. Recognize major principles in a business combination and consolidation

2. Identify events that require the application of business combination accounting

3. Recognize how to account for transactions under the acquisition method

4. Identify considerations for noncontrolling interests

5. Recognize when financial statement consolidation is appropriate

6. Recognize how consolidation is reported and disclosed

Instructional Method: Self-Study