Preparing Financial Statements and Analysis

Accounting for Business Combinations (Updated - 2)

This course provides an overview of the accounting for business combinations. The accounting and reporting requirements relating to business combinations are outlined within Accounting Standards Codification (ASC) Topic 805, Business Combinations. The objective of ASC 805 is to improve the relevance, representational faithfulness, and comparability of the information that an entity provides in its financials for business combinations. This course reflects information current through the issuance of ASU 2019-06 which provided certain relief for not-for-profit entities.

Learning Objectives:

  • 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 and not-for-profit entities with respect to accounting for business combinations.
  • Differentiate between measurement principles of business combinations and asset acquisitions.


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.

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Price (USD)

Standard: $99.80

Details

Course Code : 99CAM03-v3

Release Date : 10/29/2020
Expire Date : 10/31/2022
Credits :
CPE 4.00
QAS 4.00

Length : 3hr 20min
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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