This course covers the accounting for business combinations (ASC 805), the preparation of consolidated financial statements (ASC 810), and other related topics including, but not limited to: step-by-step acquisition, deconsolidation, segments reporting, and the goodwill impairment test. This course begins with a discussion of the scope of ASC 805 and the differences between business combinations and asset acquisitions. Next, the course explores the measurement and recognition principles of the acquisition method to account for business combinations. Then, the course covers the consolidation process. You will learn how to prepare the consolidated financial statements and make all of the necessary consolidation adjustments.
Advanced Financial Reporting: Accounting for Business Combinations and Preparation of Consolidated Financial Statements
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Advanced Financial Reporting: Accounting for Business Combinations and Preparation of Consolidated Financial Statements
Université de l'Illinois à Urbana-Champaign
Programme du cours : ce que vous apprendrez dans ce cours
Semaine
11 heure pour terminer
Course Orientation
You will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.
2 vidéos (Total 4 min), 3 lectures, 1 quiz
3 lectures
Syllabus10 min
About the Discussion Forums5 min
Updating Your Profile5 min
1 exercice pour s'entraîner
Orientation Quiz10 min
3 heures pour terminer
Module 1: Control of a Business
In this module, you will be introduced to the concepts of control over a business. You will learn different accounting methods used to account for investments in equity securities, the basics of control, the scope of "Business Combination" (ACS 805), as well as the methods to record an acquisition of a group under asset acquisition and business combination.
5 vidéos (Total 30 min), 1 lecture, 5 quiz
5 vidéos
Overview of Accounting for Investment in Equity Securities – Part 27 min
Control4 min
Scope of ASC 805 – "Business Combinations"3 min
Acquisition of a Group of Assets6 min
1 lecture
Module 1 Overview and Resources10 min
5 exercices pour s'entraîner
Lesson 1-1 Knowledge Check30 min
Lesson 1-2 Knowledge Check30 min
Lesson 1-3 Knowledge Check30 min
Lesson 1-4 Knowledge Check30 min
Module 1 Quiz
Semaine
22 heures pour terminer
Module 2: Acquisition Method
In this module, you will be introduced to the acquisition method of accounting for a business combination. You will learn the measurement principles for an acquisition and the goodwill equation to calculate the goodwill or gain from a bargain purchase as a result of the business combination. You will also learn how to prepare the consolidated financial statements on the business combination date.
4 vidéos (Total 30 min), 1 lecture, 4 quiz
4 vidéos
Goodwill Equation8 min
Consolidated Financial Statements on the Business Combination Date – Part 111 min
Consolidated Financial Statements on the Business Combination Date – Part 26 min
1 lecture
Module 2 Overview and Resources10 min
4 exercices pour s'entraîner
Lesson 2-1 Knowledge Check30 min
Lesson 2-2 Knowledge Check30 min
Lesson 2-3 Knowledge Check30 min
Module 2 Quiz
Semaine
32 heures pour terminer
Module 3: Components of Consideration Transferred in a Business Combination
In this module, you will be introduced to different components of consideration transferred in a business combination. You will learn the measurement principles of share-based payment awards and will examine a real-life merger between Express Scrips and Medco companies. Moreover, you will be introduced to the concept of contingent consideration and learn the methods to classify, recognize, and record contingent considerations.
4 vidéos (Total 36 min), 1 lecture, 3 quiz
4 vidéos
Express Scripts and Medco Merger10 min
Contingent Consideration – Part 17 min
Contingent Consideration – Part 213 min
1 lecture
Module 3 Overview and Resources10 min
3 exercices pour s'entraîner
Lesson 3-1 Knowledge Check30 min
Lesson 3-3 Knowledge Check30 min
Module 3 Quiz
Semaine
43 heures pour terminer
Module 4: Assets Acquired and Liabilities Assumed
In this module, you will gain a deeper understanding of the assets acquired and liabilities assumed in a business combination. You will be introduced to different types of identifiable assets acquired, such as defensive intangible assets and in-process research and development (IPR&D), and the rules to recognize and measure them under US GAAP and IFRS. You will also learn the difference between a taxable transaction and a non-taxable transaction, and how to calculate deferred taxes on an acquisition date.
5 vidéos (Total 35 min), 1 lecture, 5 quiz
5 vidéos
Intangible Assets Other Than Goodwill5 min
Defensive Asset and In-Process Research and Development (IPR&D)6 min
Deferred Taxes on the Acquisition Date – Part 19 min
Deferred Taxes on the Acquisition Date – Part 26 min
1 lecture
Module 4 Overview and Resources10 min
5 exercices pour s'entraîner
Lesson 4-1 Knowledge Check30 min
Lesson 4-2 Knowledge Check30 min
Lesson 4-3 Knowledge Check30 min
Lesson 4-4 Knowledge Check30 min
Module 4 Quiz
Enseignant
Michael Kustanovich, CPA
Senior Lecturer of AccountancyAccountancy
Commencez à travailler pour obtenir votre master
Ce cours fait partie du diplôme intégralement en ligne Master of Science in Accountancy (iMSA) de Université de l'Illinois à Urbana-Champaign.
Si vous êtes admis au programme complet, vos cours sont pris en compte dans votre apprentissage diplômant.
À propos de Université de l'Illinois à Urbana-Champaign
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
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