Enroll Course: https://www.coursera.org/learn/advanced-financial-reporting
Navigating the complexities of business combinations and consolidated financial statements can be a daunting task for any finance professional. Fortunately, Coursera offers a comprehensive course, “Advanced Financial Reporting: Accounting for Business Combinations and Preparation of Consolidated Financial Statements,” that demystifies these intricate accounting standards. This course is an invaluable resource for anyone looking to deepen their understanding of ASC 805 and ASC 810.
The course kicks off with a clear explanation of the scope of ASC 805, differentiating between true business combinations and simpler asset acquisitions. It then meticulously guides learners through the acquisition method, breaking down the measurement principles and the crucial goodwill equation. You’ll learn how to calculate goodwill or recognize a bargain purchase gain, and importantly, how to prepare the initial consolidated financial statements right after the acquisition date.
One of the standout features of this course is its practical approach. Module 3 delves into the components of consideration transferred, including share-based payments and contingent considerations, even analyzing a real-world merger between Express Scripts and Medco. The subsequent modules offer a thorough examination of assets acquired and liabilities assumed, covering both U.S. GAAP and IFRS, and detailing the nuances of taxable versus non-taxable transactions and deferred taxes.
Preparing consolidated financial statements post-acquisition is explored in detail, including the concept of accounting acquisition premium (AAP) and its impact. The course also tackles essential topics like intercompany transactions, both with inventory and depreciable assets, and the often-confusing area of noncontrolling interests (NCI). You’ll learn how to define, calculate, and present NCI, as well as manage consolidated retained earnings.
Further modules address changes in ownership percentages, deconsolidations, and even situations where a subsidiary acquires its parent. The course concludes with a robust look at segment reporting and the critical goodwill impairment test, covering qualitative and quantitative assessments under both U.S. GAAP and IFRS.
Overall, “Advanced Financial Reporting: Accounting for Business Combinations and Preparation of Consolidated Financial Statements” is a masterclass in a specialized area of accounting. It’s well-structured, comprehensive, and equipped with real-world examples that solidify learning. Whether you’re a student, a seasoned accountant, or a financial analyst, this course provides the knowledge and skills necessary to confidently handle business combination accounting and consolidated financial reporting. Highly recommended!
Enroll Course: https://www.coursera.org/learn/advanced-financial-reporting