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Accounting for the Cost of Pension Plans Subject to the Employee Retirement Income Security Act of 1974—an interpretation of APB Opinion No. 8 Dec. 1974: Superseded by FASB Statement 87, para. 9; 4. Applicability of FASB Statement No. 2 to Business Combinations Accounted for by the Purchase Method—an interpretation of FASB Statement No. 2 ...
The difference between the $8 and $24 is $16B in write-up-- the values of the net identifiable assets are in effect increased to 3 times the value reported on the original balance sheet. The difference between the $24B and $30B is $6B in goodwill acquired through the transaction—the excess of the purchase price paid over the FV of the net ...
This article is an incomplete list of Financial Accounting Standards Board (FASB) pronouncements, which consist of Statements of Financial Accounting Standards ("SFAS" or simply "FAS"), Statements of Financial Accounting Concepts, Interpretations, Technical Bulletins, and Staff Positions, which together presented rules and guidelines for preparing, presenting, and reporting financial ...
The scope of the overall IASB-FASB convergence project has evolved over time. The IASB and FASB issued converged standards for accounting topics including Business combinations (2008), Consolidation (2011), Fair value measurement (2011), and Revenue recognition (2014). Other convergence projects have been discontinued.
The treatment of business combinations is irrational. IFRSs create accounting volatility that does not reflect the economic reality. Charles Lee, professor of accounting at Stanford Graduate School of Business, has also criticised the use of fair values in financial reporting. [43]
PricewaterhouseCoopers International Limited [4] is a British multinational professional services brand of firms, operating as partnerships under the PwC brand. It is the second-largest professional services network in the world [5] and is considered one of the Big Four accounting firms, along with Deloitte, EY, and KPMG.
There are three forms of combination: (1) horizontal integration: the combination of firms in the same business lines and markets; (2) vertical integration: the combination of firms with operations in different but successive stages of production or distribution or both; (3) conglomeration: the combination of firms with unrelated and diverse ...
First-Time Application of IASs as the Primary Basis of Accounting 1998 August 1, 1998: January 1, 2004: IFRS 1: SIC 9: Business Combinations - Classification either as Acquisitions or Unitings of Interests 1998 August 1, 1998: April 1, 2004: IFRS 3: SIC 10 Government Assistance-No Specific Relation to Operating Activities 1998 August 1, 1998 ...