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FASB's New Rules for Pushdown Accounting

Gain a better understanding of the new FASB guidance and when it should be used.Prior to November 2014, public companies were required or encouraged to apply pushdown accounting in certain situations and precluded from using pushdown accounting in other situations. The only guidance on pushdown accounting was limited and came from the Securities and Exchange Commission in Staff Accounting Bulletin Topic 5J and did not provide issuers with an opportunity to consider whether there would be a benefit from applying a new basis of accounting for an acquired company. This topic will help you understand the new FASB guidance, when it can be applied and by whom. The topic also explains the process of applying pushdown accounting and when it might be useful for public and private entities to elect to apply this optional guidance.


Runtime: 99 minutes
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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

Background

  • What Is Pushdown Accounting?
  • When Was Pushdown Accounting Previously Required?
  • Why Did the FASB Issue ASU No. 2014-17 and ASU No. 2015-08?

Overview of ASU No. 2014-17

  • Scope
  • Recognition
  • Initial Measurement
  • Subsequent Measurement
  • Disclosure
  • Transition

Application of Pushdown Accounting

  • New Basis of Accounting
  • Treatment of Goodwill
  • Recognition of Debt by Acquired Company
  • Other Considerations

Impact of Pushdown Accounting

  • Comprehensive Example
  • Typical Affects
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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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OnDemand Webinar

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Audio & Reference Manual

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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.

Faculty

Eric J. Barger

Eric J. Barger

MorganFranklin Consulting, LLC

  • Director, Accounting & Transaction Services at MorganFranklin Consulting, LLC
  • More than 25 years of experience in mergers and acquisitions involving domestic and international buy-side and sell-side transactions ranging in purchase price from several million to over $22 billion. Includes pre-acquisition due diligence; post-merger integration; preparation of carve-out financial statements; valuation and transaction structuring
  • Extensive technical accounting and financial reporting expertise, with an emphasis on: business combinations (purchase accounting and intangible asset valuation); consolidations (including VIE determination); divestitures and discontinued operations; fresh-start reporting; goodwill impairment testing and reporting; valuation; operating, reportable segment and reporting unit determination, aggregation and reporting; restructuring activities; internal controls documentation and testing
  • Conducts regular workshops on accounting for business combinations
  • Certified Public Accountant in the State of New Mexico
  • Graduate of the McIntire School of Commerce at the University of Virginia B.S. in commerce with a concentration in accounting
  • Can be contacted at 703-927-6428 or [email protected]
Dee Mirando-Gould

Dee Mirando-Gould

MorganFranklin Consulting, LLC

  • Executive director, Technical Accounting Resource Center, Accounting & Transaction Services at MorganFranklin Consulting, LLC
  • Extensive experience in accounting and auditing, including 17 years at PricewaterhouseCoopers LLP and more than two years as associate chief auditor at the Public Company Accounting Oversight Board in the auditing standards group
  • Focuses most of her time on initial public offerings and complex accounting and reporting issues, including accounting for revenue transactions under existing and the new revenue standard; leases under existing and the new lease standard; business combinations; derivatives and hedging; stock-based compensation; variable-interest entities and other consolidations issues; and debt and equity instruments and related embedded features
  • Presents regularly at seminars on recent accounting pronouncements and financial reporting issues
  • Written several publications on accounting and financial reporting issues, including the JOBS Act of 2012 and the new revenue standard
  • Certified Public Accountant in the State of Washington and Alaska
  • M.B.A. and a B.B.A. in accounting degrees
  • Can be contacted at 703-407-2767 or [email protected]
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Product ID: 396419
Published 2016
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