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FASB's Rules for Pushdown Accounting

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.

100 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 36 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

Pushdown Accounting

  • Definition
  • Election

Definition of Fair Value

Types of Investments

  • Fair Value Method (ASC 321)
  • Equity Method and Joint Ventures (ASC 323)
  • Asset Acquisition (ASC 805)
  • Business Combination (ASC 805)

Implication of Pushdown Accounting

  • Obtaining Control of a Business
  • ASU 2014-17
  • Reasons for Pushdown Accounting
  • Example

Pushdown Accounting Mechanism

  • Pushdown Election
  • Goodwill and Negative Goodwill
  • Acquisition-Related Liabilities
  • Contingent Considerations
  • Deferred Revenue Liabilities
  • Income Taxes
  • Acquisition-Related Costs
  • Foreign Currency Translation

Disclosures

  • Presentation of Predecessor and Successor
  • Example of Disclosures

Summary and Conclusion

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Why Lorman?

Over 36 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 Course

This course was last revised on August 23, 2023.

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

  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     

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

MP3 Download

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

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Why Lorman?

Over 36 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, Ph.D. (candidate)

Josef Rashty, CPA, Ph.D. (candidate)

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
  • Has taught accounting as an adjunct professor and lecturer of accounting with a few universities in the Bay Area for the past ten years
  • Has published over 70 articles on contemporary accounting issues in several accounting professional journals (available at https://josefrashty.com)
  • He is a peer technical reviewer of the CPA Journal (a New York Society of CPAs publication)
  • Regularly publishes CPE accounting articles for Today‚Äôs CPA (a Texas Society of CPAs publication) and CPAFocus (an Oklahoma Society of CPAs publication)
  • Can be contacted at [email protected]
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Product ID: 410668
Published 2023
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