Business Combinations and Consolidations, Part 2 (ASC 805 & 810)
Learning objectives
After completing this course, the learner should be able to:
- Recognize the characteristics of acquisition method business combinations
- Recognize the accounts that are eliminated and recognized when applying the acquisition method and how to prepare the eliminating journal entry
- Recognize how goodwill and noncontrolling interests are accounted for and reported in the consolidated financial statements
- Calculate goodwill and noncontrolling interest under the acquisition method
- Recognize how expenditures are accounted for in acquisition method business combinations
- Recognize the types of identifiable intangible assets and how they are accounted for when applying the acquisition method
- Recognize how to eliminate intercompany transactions when consolidating financial statements
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Becker Professional Education Sponsor I.D. Numbers NASBA: 107294, New York: 002087, New Jersey: 20CE00226700, Texas: 009580, Ohio: CPE.186, Illinois 158.002405, Pennsylvania: PX177823