Consolidation accounting has changed significantly during recent years due to the introduction of the concept of variable interest entities (FIN 46). Today, consolidation can occur based on control other than majority ownership as well as one company having majority ownership of another, creating additional complexity for consolidation accounting and disclosures. Since 2009, FASB has issued nine ASUs to clarify the accounting for consolidations. This program addresses consolidation requirements based on the FASB guidance in Topic 810, Consolidation. In addition, the accounting for a business combination has also changed due to the issuance of FASB 141, Business Combinations, which changed the accounting for an acquisition from purchase accounting to acquisition accounting. This program will address acquisition accounting based on the FASB guidance in Topic 805, Business Combinations.
DESIGNED FOR
CPAs, accountants and financial professionals in industry and public practice.
BENEFITS
- Describe the U.S. GAAP guidance for consolidations and business combinations
- Distinguish between consolidation based on majority ownership and consolidation based on control (VIE accounting)
- Apply accounting guidance to issues such as primary beneficiaries, variable interests, non-controlling interests, step acquisitions, goodwill and fair value
- Apply consolidation and business combination guidance through several workshop cases
HIGHLIGHTS
- Consolidation Framework (ASC 810)
- Variable Interest Entities
- Voting Interest Entities
- Consolidation Application Cases
- Disclosure Requirements
- Business Combination Framework (ASC 805)
- Business Combination Recognition Model
- Business Combination Application Cases
- Disclosure Requirements
COURSE LEVEL
Intermediate
PREREQUISITES
Basic knowledge of U.S. GAAP.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
Course materials are distributed electronically and we’ve passed the savings along to you - registrants save $20 on all 8-hour seminar pricing. To access the materials visit
My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.