Financial Accounting Issues

Business Combinations - Topic 805 v3.0

With the fair value requirements now applying to “hard assets,” acquisition accounting takes on a whole new meaning. This course discusses not only how Topic 805, Business Combinations expands what is accounted for as a business acquisition but also the nuances of items never before required to be valued. Specific examples of what and how acquired items must be valued are provided.

Learning Objectives:

After completing this course, the course participant should be able to:

  • Describe and apply FASB’s definition of a business.
  • Describe the acquisition method applied to Topic 805.
  • Recognize the important considerations in measuring acquired assets and liabilities including goodwill.
  • Determine the fair value hierarchy for measuring acquired assets and liabilities.
  • Account for a non-controlling interest in a business combination.


Prerequisites/Advanced Preparation:

None

Speaker / Author:

John M. Fleming, licensed as a CPA in Pennsylvania, has served as the President and Director of Accounting and Auditing for Kaplan Financial Education, powered by Loscalzo Institute and also as the Director of Content Development for Kaplan Financial Education, powered by SmartPros.  John retired from Kaplan in October of 2017. In retirement, John continues to provide seminars as a discussion leader for Kaplan Financial Education on a part-time basis.

John’s prior practice experience includes audit, tax, consulting, office management, and human resource responsibilities with Deloitte LLP, Richard Eisner & Company LLP, and Ernst & Young LLP. John is a graduate of LaSalle and Drexel Universities with degrees in accounting and finance.

John, a Pennsylvania CPA, served as the 1999/2000 President of the 8,300 member Greater Philadelphia Chapter of the Pennsylvania Institute of Certified Public Accountants (PICPA). In 2006, the PICPA recognized John as a Joseph E. Sterrett Fellow for his contributions to the accounting profession and in 2007, the Philadelphia Chapter recognized John with their Champion Award for his contributions to the PICPA, Chapter, profession and community.  John has also served as the 2002/2003 President of the American Accounting Association’s Mid-Atlantic Region.

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Price (USD)

Standard: $24.95

Details

Course Code : 99FLE03-v3

Release Date : 10/18/2023
Expire Date : 11/30/2024
Credits :
CPE 1.00
QAS 1.00

Length : 50min
Course Level : Basic
Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

Theme : Financial Accounting Issues

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