Financial Accounting Issues

Business Combinations (Updated)

With the fair value requirements now applying to “hard assets,” acquisition accounting takes on a whole new meaning. This course discusses not only how the business combination pronouncement 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:

  • Recognize the major elements of ASC Topic 805.
  • Define a business.
  • Recognize the important considerations in measuring acquired assets and liabilities.
  • Determine the fair value hierarchy for measuring acquired assets and liabilities.
  • Identify the steps involved in measuring the cost of an acquisition.
  • Account for a non-controlling interest in a business combination.

Prerequisites/Advanced Preparation:


Speaker / Author:

John M. Fleming, CPA, MBA, is currently the Director, Content Development for SmartPros LTD, a division of Kaplan Professional Education. SmartPros is an international educational and training company specializing in accounting, finance and ethics educational programs. John previously served as President and Director of Accounting and Auditing for LOSCALZO ASSOCIATES, a division of SmartPros for twenty-eight years. John retired as President of Loscalzo Associates on January 1, 2014.

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) and currently serves as a member of the Institute’s Accounting and Auditing Technical Committee. 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.

John and his wife Marge live in Medford, New Jersey.


Price (USD)

Standard: $24.95


Course Code : 99FLE03-v2

Release Date : 10/27/2020
Expire Date : 10/31/2022
Credits :
CPE 1.00
QAS 1.00

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

Theme : Financial Accounting Issues

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