Description
Business Combinations and Consolidations | ASC 805 & 810 (Part 1)
This course will be an overview of:
- When it is appropriate to use consolidated statements.
- How to choose and execute the right accounting method for your organizations portfolio of subsidiaries and investments.
After completing this course, the learner should be able to:
- Recognize the types of marketable securities, their classification, and the impact they have on an entity’s financial statements.
- Recognize the purpose and characteristics of consolidated financial statements.
- Recognize the criteria utilized to determine when to consolidate financial statements and when to apply the equity method.
- Recognize the steps used when accounting for a business combination using the equity method and calculate the amounts reported in the financial statements.
Business Combinations and Consolidations | ASC 805 & 810 (Part 2)
This course will be an overview of:
- When to use consolidated statements.
- How to choose and execute the right accounting method for your organizations portfolio of subsidiaries and investments.
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 non-controlling interests are accounted for and reported in the consolidated financial statements.
- Calculate goodwill and non-controlling 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 inter-company transactions when consolidating financial statements.
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