Business Combinations with SFAS 141R, 157, and 160
A Guide to Financial Reporting
By Michael J. Mard, Steven D. Hyden, Edward W. Trott
Fair value interpretations are complex. If you are involved in these types of reviews there is finally a guide to help you navigate the new accounting requirements. The authors provide specific guidance for determining fair value, a flowchart, checklist for interpreting the standard and a worksheet for SFAS 157. There is guidance for the new requirements for business combinations (SFAS141R) with a flowchart, and a discussion of SFAS 160, Non-controlling Interests in Consolidated Financial Statements. The authors provide a section on convergence with International Financial Reporting Standards (IFRS) that should help with the transition. Auditors now have a concise and clear guide on documenting and recording business combination transactions. The book is accompanied by a PDF copy available for download from the Internet.
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