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Accounting Rules for Business Combinations and Other Consolidation Issues

Learn key considerations in accounting for business combinations and consolidations.Acquisition of a business may occur infrequently and when a company buys a new business, or a company is acquired, the accountant may be asked to record the transaction. They may not understand how to get started to account for the transaction in accordance with US GAAP or how to prepare documentation that will satisfy the company’s auditor. This topic helps the person responsible for accounting for acquisitions of a business and consolidations identify when a business acquisition has occurred and understand key considerations in applying the accounting requirements for the acquisition. This material also discusses key considerations when establishing a plan to tackle the complex accounting and valuation issues, and preparing for the company’s auditor. Failure to consider key parts of the accounting guidance and properly plan and document a business acquisition often leads to wasted time, effort and frustration when undergoing a financial statement audit.


Runtime: 103 minutes
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Applying the Definition of a Business

  • Existing Definition of a Business
  • Recent Changes to the Definition of a Business
  • Accounting Implications of the Change in the Definition of a Business

Determining the Transaction Price

  • Contingent Consideration
  • Employment Agreements
  • Acquisitions Without Transaction Prices

Accounting for Assets and Liabilities Acquired

  • Identifying Assets and Liabilities
  • Fair Value: Accountants Interaction With Valuation Specialists
  • The Effect of Income Taxes
  • Computing Goodwill or Gain

Pushdown Accounting

  • The Meaning of Pushdown Accounting
  • Choosing the Best Method
  • Addressing Transaction Costs and Reporting Matters

Common Control and Consolidation

  • Common Control Transactions
  • Acquisition of Variable Interest Entities
  • Impact of Adoption of the New Consolidation Guidance
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on March 21, 2017.

Call 1-866-352-9540 for further credit information.

  • AL CPE
     
  • This course is acceptable for 2.0 live credit hour(s) through the Alabama State Board of Public Accountancy.
     
  • GA CPE
     
  • This program is applicable for CPE credit. *The Georgia State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • IA CPE
     
  • This program is applicable for CPE credit. *The Iowa State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • IN CPE
     
  • This program is applicable for self study CPE credit. *The Indiana State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • KY CPE
     
  • This Ondemand program is applicable for CPE credit. *The Kentucky State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Massachusetts State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MD CPE
     
  • This course is not pre-approved for CPE credit in your state however, it is applicable. *Please check the rules and requirements in your state for compliance.
     
  • ME CPE
     
  • This Ondemand program is applicable for CPE credit. *The Maine State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MI CPE
     
  • This Ondemand program is applicable for CPE credit. *The Michigan State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MO CPE
     
  • This Ondemand program is applicable for CPE credit. *The Missouri State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MT CPE
     
  • This Ondemand program is applicable for CPE credit.* *The Montana State Board of Accountancy has final authority on the acceptance of individual courses and providers. Please check the rules and requirements for CPE compliance and calculate the amount of credit hours you can claim for self study courses.
     
  • ND CPE
     
  • This Ondemand program is applicable for CPE credit. *The North Dakota State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • NH CPE
     
  • This Ondemand program is applicable for CPE credit. *The New Hampshire State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • NV CPE
     
  • This Ondemand program is applicable for CPE credit.*The Nevada State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • OH CPE
     
  • This Ondemand program is applicable for CPE credit. *The Ohio State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • PA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Pennsylvania State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • TX CPE 2.0
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 2.0 hours of continuing professional education.
     
  • VA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Virginia State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • WA CPE
     
  • This Ondemand program is applicable for CPE credit.* *Please check the rules and requirements in your state for compliance.
     
  • WY CPE
     
  • This Ondemand program is applicable for CPE credit. *The Wyoming State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     

Audio & Reference Manual

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MP3 Download

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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Mark Winiarski

Mark Winiarski

Mayer Hoffman McCann P.C.

  • Shareholder in the office of Mayer Hoffman McCann P.C.
  • Practice emphasizes all aspects of audit and accounting
  • Conducts regular seminars and workshops on numerous subject matter areas including business combinations and consolidations
  • Wrote several publications related to the areas of business combinations and consolidations
  • Member of American Institute of CPAs (AICPA); Missouri Society of CPAs (MSCPA), Kansas Society of CPAs (KSCPA); Chair of the Technical Issues Group of the MSCPA
  • Master of accountancy and B.S. degree in accountancy, University of Missouri – Columbia; Certified Public Accountant
  • Can be contacted at 816-945-5617, mwiniarski@cbiz.com or on Twitter® @KCWini
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 396908
Published 2017
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