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With the FASB issuing FASB 141 (R) on business combinations and FASB 160 on noncontrolling interests, the landscape of mergers and acquisitions will be changed forever. These standards require the expensing of all acquisition costs, the repositioning of noncontrolling interests on the balance sheet and the use of the new FASB 157 fair value standard. This course will provide easy to follow guidance that will guide accountants through the maze of new requirements.

Designed For
Accountants in industry and those in public practice 

Objective

Participants will be able to:

• Record the acquisition of a business, using the acquisition method (formerly known as the purchase method)

• Measure the assets acquired and liabilities assumed

• Measure the consideration received, including contingent consideration

• Measure noncontrolling interests and goodwill

• Prepare appropriate disclosures

Recognizing and measuring assets acquired - intangible assets, assets held for sale, operating leases, valuation allowances…  Recognizing and measuring liabilities assumed - contingencies, employee benefit obligations, obligations under leases, income taxes…  Indemnification by the acquirer…  How to account for acquisition costs and restructuring or exit costs…  Contingent consideration…  Goodwill…  Accounting and reporting on the acquisition and disposal of noncontrolling interests...  Presentation and disclosure issues.

Presentation Method:  Lecture and discussion of questions and case studies

Level of Knowledge:  Basic

Prerequisites: None

Recommended CPE Credit:  8 hours

Field of Study: Accounting

Advance Preparation:  None

Availability Date:  6/15/2008

Author(s):   William Loscalzo, CPA