This course provides an overview of the similarities and key differences between the business combination standards issued by the FASB (ASC Topic 805) and the IASB (IFRS 3). While these standards are very similar, as is the case with many areas of U.S. GAAP vs. IFRS, there are notable differences that are helpful to understand. Note that this course is not intended to provide an exhaustive discussion of these differences.
Importance of Being Financially Bilingual. Overall Differences and Similarities between U. S. GAAP and IFRS. Identifying the Acquirer. Determining the Acquisition Date. Recognizing and measuring the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree. Recognizing and Measuring Goodwill or Gain from a Bargain Purchase.
CPAs, CFOs, controllers, financial professionals, and auditors.
List the key steps in the acquisition method for business combinations. Recognize the applicable U. S. GAAP and IFRS standard with respect to business combinations. Identify some of the key differences between ASC Topic 805 and IFRS 3.
Kelen Camehl, Western CPE
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”.
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Non-Member Price $33.00
Member Price $29.00