Live Webinar

60-minute live streaming program
  • August 16
  • 1:00 - 2:00 pm EST

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OnDemand Course

FASB's Rules for Pushdown Accounting

August 16

Gain a better understanding of the FASB guidance and when it should be used.

Companies prepare separate financial statements of their subsidiaries for various reasons, such as spin-offs, regulatory requirements, or compliance with debt covenants. Pushdown accounting establishes a new basis for reporting assets and liabilities in the acquiree’s separate financial statements based on a pushdown of the acquirer’s new bases. Pushdown typically results in stepping up the basis of assets and liabilities to fair value and recording goodwill in the acquiree’s financial statements. This course expounds on the fundamental concepts of pushdown accounting.

Learning Objectives

  • You will be able to define pushdown accounting and its application to different types of business ventures.
  • You will be able to describe reasons acquirers choose to push down their fair values to step up the basis of assets and liabilities in the acquirees’ financial statements.
  • You will be able to discuss the implications of pushdown accounting on different assets and liabilities.
  • You will be able to explain the impact of pushdown accounting on disclosure requirements.

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Why Lorman?

Over 35 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

Application and Definitions of Fair Values
Types of Investments and Business Ventures
  • Fair Value Method (ASC 321)
  • Equity Method and Joint Ventures (ASC 323)
  • Asset Acquisition (ASC 805)
  • Business Combination (ASC 805)
Definition of Pushdown Accounting Where an Acquirer Exercises Control and Pushes the Fair Values Down to the Acquiree
Pushdown Accounting Applicable to Business Combinations Under ASC 805
FASB Issued ASU 2014-17, Which Gives an Acquiree the Option to Apply Pushdown Accounting in Its Separate Financial Statements Upon Change of Control
Pushdown Accounting Is Optional, but the Decision Is Irrevocable
ASU 2014-17 Eliminates the Previous SEC’s Bright Lines Requirements and Replaces Them With the Concept of Control
Implications of Pushdown Accounting Are as Follows:
  • Goodwill and Negative Goodwill
  • Acquisition-Related Liabilities
  • Contingent Considerations
  • Income Taxes
  • Acquisition-Related Costs
  • Deferred Revenue Liabilities
  • Disclosures
Summary and Conclusion (Impact of Pushdown Accounting on an Acquiree’s Financial Statements)
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Why Lorman?

Over 35 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

Live Webinar Registration

  • AIPB 1.0
     
  • This program is acceptable for 1.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • Enrolled Agents 1.0
     
  • This program qualifies for 1.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     
  • CPE 1.2 including Accounting 1.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Accounting for 1.2 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

OnDemand Course

This course was last revised on July 21, 2016.

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

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for accountants, controllers, CFOs, tax managers, presidents, vice presidents, business owners and managers, bookkeepers, tax preparers, and enrolled agents.

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Why Lorman?

Over 35 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

Josef Rashty, CPA

Josef Rashty, CPA

Josef Rashty, CPA

  • Certified Public Accountant and a Ph.D. candidate
  • Started his career in public accounting with Arthur Andersen and has worked for over 25 years with Silicon Valley technology companies as a financial executive
  • Taught accounting as an adjunct professor and lecturer of accounting with a few universities in the Bay Area for the past ten years
  • Published over 60 articles on contemporary accounting issues in several accounting professional journals; the list of these publications and PDF copies are available at his website https://josefrashty.com
  • Published “Implications of Pushdown Accounting” in March 2018 in The CPA Journal (a New York Societies of CPAs publication) - https://josefrashty.com/uploads/3/4/1/9/34190589/2018-3_pushdown-tcpaj.pdf
  • Regularly publishes CPE accounting articles for Today’s CPA (a Texas Society of CPAs publication) and CPAFocus (an Oklahoma Society of CPAs publication)
  • He can be contacted at [email protected]
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Why Lorman?

Over 35 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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Product ID: 409484
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