CE/CPE Course Information

Accounting for Business Combinations and Consolidated Financial Reporting

CPE Credits: 6
Subject Area: Accounting and Auditing
Field of Study: Accounting
Program Level: Overview
Delivery Method: QAS Self-Study
Lesson Version: 17-2
Publication/Revision Date: January 3, 2017
Prerequisites/Advanced Preparation: None
Written By: Michael Kustanovich, CPA

Learning Objectives	After completing this course, you will be able to Distinguish situations in which consolidated reporting is necessary from those in which it is not Apply the major principles of the acquisition method of accounting for a business combination, including recognition of goodwill and gain from bargain purchase Account for contingent consideration transferred in a business combination Apply the proper accounting treatment for costs associated with a business combination Prepare consolidated financial statements on, and subsequent to, the acquisition date Account for intraentity transactions and perform the calculations necessary to record the eliminating journal entries Account for changes in a parent’s ownership interest, including deconsolidation of a subsidiary and spin-off transactions Identify the main concepts of the variable interest model Distinguish between the accounting for taxable and nontaxable business combinations. This course was reviewed on August 17, 2023, and no updates or revisions were deemed necessary.
Course Topics	Introduction and Definitions Accounting for Business Combinations -- Acquisition Method Preparation of Acquisition-Date Consolidated Balance Sheet Consolidated Financial Reporting Subsequent to Acquisition Date Intraentity Transactions -- Eliminating Journal Entries Other Issues -- Changes in Parent’s Ownership Interest and Deconsolidation Other Issues -- Business Combination Achieved in Stages Other Issues -- Variable Interest Entities (VIEs) Other Issues -- Taxable and Nontaxable Business Combinations

Learning
Objectives

After completing this course, you will be able to

Distinguish situations in which consolidated reporting is necessary from those in which it is not
Apply the major principles of the acquisition method of accounting for a business combination, including recognition of goodwill and gain from bargain purchase
Account for contingent consideration transferred in a business combination
Apply the proper accounting treatment for costs associated with a business combination
Prepare consolidated financial statements on, and subsequent to, the acquisition date
Account for intraentity transactions and perform the calculations necessary to record the eliminating journal entries
Account for changes in a parent’s ownership interest, including deconsolidation of a subsidiary and spin-off transactions
Identify the main concepts of the variable interest model
Distinguish between the accounting for taxable and nontaxable business combinations.
This course was reviewed on August 17, 2023, and no updates or revisions were deemed necessary.

Course Topics

Introduction and Definitions
Accounting for Business Combinations -- Acquisition Method
Preparation of Acquisition-Date Consolidated Balance Sheet
Consolidated Financial Reporting Subsequent to Acquisition Date
Intraentity Transactions -- Eliminating Journal Entries
Other Issues -- Changes in Parent’s Ownership Interest and Deconsolidation
Other Issues -- Business Combination Achieved in Stages
Other Issues -- Variable Interest Entities (VIEs)
Other Issues -- Taxable and Nontaxable Business Combinations

This QAS self-study course consists of an Audiovisual presentation, a Knowledge Transfer Outline with multiple-choice questions for study and review, and a Qualified Assessment of 30 questions.

This course is designed for your convenience. You may log out at any time during the course; your current position and all work will be saved. The next time you log in, you can resume right where you logged off.

State Board and other CPE agency registrations can be viewed on our sponsor approvals page.

For more information regarding administrative policies such as complaints and refunds, please contact our CPE Department at (800) 874-5346 ext. CPE (273).

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