Preparing Financial Statements and Analysis

Accounting for Business Combinations (Updated)

Course Overview
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. This course reflects information current through the issuance of ASU 2017-01, Clarifying the Definition of a Business, which is effective for public business entities for annual periods beginning after December 15, 2017, including interim periods within those periods.



Learning Objectives:

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

  • Identify the definition of a business as it relates to a business combination transaction
  • Recognize key changes prescribed by ASU 2017-01
  • List the steps involved in the acquisition method
  • Identify the acquisition date for a business combination
  • Recognize principles and exceptions in the measurement of assets and liabilities of a business combination
  • Differentiate between the various categories of intangible assets
  • 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
  • Identify the relief afforded to private entities with respect to accounting for business combinations
  • Differentiate between measurement principles of business combinations and asset acquisitions

  • Content Partner:

    SmartPros Ltd.

    SmartPros Ltd. is a leader in online and offline continuing education for
    accounting, finance and engineering professionals. With over 2,000 hours of
    content, SmartPros has been providing mandatory continuing education
    products since 1981. SmartPros provides services and content to its
    professional and corporate clients, in a variety of media including Web, CD
    ROM, and video. In the accounting market, SmartPros also has a predominant
    news and information portal which receives 200,000+ visits per month and
    provides services to over 100,000 subscribers. SmartPros' customers include
    50% of the Fortune 500, as well as the major firms and associations in each
    of its professional markets.


    Prerequisites/Advanced Preparation:

    Basic Knowledge of Financial Reporting

    Speaker / Author:

    Kelen Camehl is a CPA with over 14 years of progressive finance and accounting experience. Currently, he serves as a technical accounting advisor with HP. Prior to this role, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.

    Kelen has remained actively involved in CPA exam content development for the past seven years and has authored in excess of a thousand multiple choice questions for sections of the exam, attending workshops with the AICPA across the country each year. He serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy", as well as both an author and technical reviewer for Continuing Professional Education (CPE) courses published by the AICPA, Wolters Kluwers (CCH), and PDH Academy. He also contributes to CPE course development for SmartPros.

    Software & Hardware Requirements:

    • 56k or Greater Internet Connection
    • Adobe Acrobat® Reader for the .pdf files
    • High Speed Internet Connection
    • Modern DHTML Compatible Browser
    • Ram: 256 MB minimum
    • Sound card with speakers/headphones
    • Windows or Mac OS

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    Price (USD)

    Standard Rate: $74.85

    Details

    Course Code : 99CAM03-v2

    Release Date : 10/19/2018
    Expire Date : 10/19/2020
    Credits :
    CPE 3.00
    QAS 3.00

    Length : 2hr 30min
    Course Level : Basic
    Course Type : Self-Study
    Passing Grade : 70%
    Format Type : eLearning
    Mobile Compatible
    Field Of Study : Accounting

    Theme : Preparing Financial Statements and Analysis

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