Business Combinations - US GAAP vs. IFRS Explained

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1 Credit

Subject Area

Accounting

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Course Description
Course Qualification
Author
FAQ

Course Description

As businesses grow and expand into global markets, complicated mergers and acquisitions become everyday occurrences. The increase in merger and acquisition activity brought greater attention to the fact that two economically similar transactions may be accounted for differently by companies, and thus, produce dramatically different financial results. The growing volume of international business combinations heightened the urgency to eliminate cross-border differences in accounting standards for business combinations. There is currently an ongoing project to converge IFRS (International Financial Reporting Standards) with Generally Accepted Accounting Principles (U.S. GAAP).
While these standards are very similar, there are notable differences that are helpful to understand. 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).
This Online Accounting CPE eBook includes following key topics:
Scope of ASC Topic 805 and IFRS 3
Overall Differences & Similarities between U.S. GAAP & IFRS
Business Combinations Overview
Steps of Business Combination
Acquisition of Contingencies
Contingent Consideration
Noncontrolling Interests

Learning Objectives

To analyze the difference between U.S. GAAP and IFRS standard
To discuss recognition of leases acquired in a business combination using FASB (ASC Topic 805) vs IASB (IFRS 3)
To list out key steps in the acquisition method for business combinations
To recognize the applicable U.S. GAAP and IFRS standard concerning business combinations
To identify some of the key differences between ASC Topic 805 and IFRS 3
To identify general disclosure requirements

Course Qualification

Webinar Qualifies For

1 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
1 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
1 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
1 PL Credit of Accounting for Chartered Financial Analyst (CFA)
1 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
1 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
1 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
1 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
1 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
1 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
1 CPE Credit of Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
1 PL Credit of Accounting for CIPM
1 CE Credit of Financial accounting concepts for Certified FP&A Professional (FP&A)

Additional details

Course Level :

Basic
Credits :

1
Pre-requisites :

None
Advance Preparation :

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Author

About Author

Kelen Camehl, CPA (US), MBA

Kelen is a recognized author and reviewer of CPE courses and has authored over 150 courses (370+ 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 remained involved in CPA exam content development for nearly 10 years and 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 nearly 20 years of progressive finance and accounting experience. He currently serves as a Principal in Accounting Policy with HP in Doha, Qatar. 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.

About Company

HP

www.hp.com/in-en/home.html

Our vision is to create a world where innovation drives extraordinary contributions to humanity. This vision guides everything we do, how we do it, and why we do it.
Our technology – a product and service portfolio of personal systems, printers, and 3D printing solutions – was created to inspire our vision and we are doing everything in our power across climate action, human rights, and digital equity to make it so.
We believe thoughtful ideas can come from anyone, anywhere, at any time. And all it takes is one to change the world.

Faq

FAQs content

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