Chapter 14: Business Combinations, Consolidations, and Foreign Operations

In this section

• Acquisition vs. Asset Purchase Accounting
  Explore critical distinctions between a business combination and an asset purchase, learn how to determine if a set of acquired assets and processes constitutes a business, and understand the key accounting and reporting consequences under U.S. GAAP and IFRS.
• Variable Interest Entities and Noncontrolling Interests
  Explore the intricacies of Variable Interest Entities (VIEs) and Noncontrolling Interests, focusing on consolidation criteria, primary beneficiary assessment, and equity presentation under U.S. GAAP and IFRS.
• Foreign Currency Translation and Remeasurement
  Learn how to convert financial statements of foreign subsidiaries into a parent’s reporting currency using translation and remeasurement methods. Gain clarity, avoid pitfalls, and master key concepts of functional currency determination.
• Complex Consolidation Eliminations and Disclosures
  Master the intricacies of complex consolidation eliminations, intangible allocations, and subsequent measurement for advanced financial reporting, with in-depth guidance and practical examples.