Please note that this Workshop will only be offered as a live, interactive webcast via Zoom. Speakers and participants will be participating in the program remotely. Participants will have the ability to interact with faculty and the live remote audience during the Workshop and will have access to all program materials. Attendees will need to download Zoom Client for Meetings Software prior to the program. If you are using a VPN please disconnect from the VPN prior to starting the program.
See Credit Details Below
Overview
This program does not offer CLE credit in any jurisdiction
Why You Should Attend
Learn to apply the business combinations accounting guidance in a pragmatic, practical way. Workshop participants will gain an in-depth understanding of how to apply the FASB standard (codified in ASC 805) on business combinations, including recent ASUs related to business combinations, how to make journal entries in specific situations, the areas where estimation and judgment are required, the SEC’s updated requirements for financial statements and pro forma information for significant business combinations, and the appropriate financial statement disclosure.
What You Will Learn
At the completion of this program, participants will be able to:
• Understand the typical process of acquiring a business from an accountant’s perspective
• Identify the steps in accounting for an acquisition, including:
o Determining what is a “business” as defined by the FASB
o Understanding who is the acquirer
o Knowing what the company bought and how to apply appropriate recognition and measurement principles
o Determining contingent consideration vs. compensation, and replacement options issued for acquiree awards
• Discuss the measurement period
• Differentiate accounting for acquisition related costs and expenses
• Recall the FASB’s guidance for contract assets and liabilities related to acquired contracts with customers under ASC 606
• Recognize frequently encountered implementation issues
• Determine what additional disclosures may be needed in your periodic reports
• Manage the volume of disclosure
• Explore the FASB’s Private Company Council accounting alternatives
• Analyze SEC Form 8-K filing requirements and guidance for acquisition financial statements, including the revised significant subsidiary test, carve-outs, pro forma financial information, and additional considerations for cross-border acquisitions
• Review pushdown accounting, reverse mergers, and other sundry topics
What You Should Bring
For this hands-on Workshop, we recommend you bring examples of business combination transactions from a company or a client, along with the related disclosures.
Who Should Attend
This Workshop is geared for financial reporting professionals who are involved in accounting for business combinations, who review or audit such transactions, or who work in functional areas that could be impacted by a business combination transaction, such as tax professionals or lawyers involved in M&A transactions.
Program Level
Overview
Prerequisites
A background in financial reporting and accounting.
Advanced Preparation
None