By Floyd A. Beams
An in-depth advisor to accounting that displays the main updated enterprise developments.This finished textbook addresses useful monetary reporting difficulties whereas reflecting contemporary enterprise advancements and adjustments in accounting standards.This version has been rewritten to align with the monetary Accounting criteria Board Accounting criteria Codification.
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Additional info for Advanced Accounting, 11th Edition
11] Intangible assets that are not separable should be included in goodwill. For example, acquired firms will have a valuable employee workforce in place, but this asset cannot be recognized as an intangible asset separately from goodwill. GAAP (reproduced in part in Exhibit 1-2) provides more detailed discussion and an illustrative list of intangible assets that firms can recognize separately from goodwill. CONTINGENT CONSIDERATION IN AN ACQUISITION Some business combinations provide for additional payments to the previous stockholders of the acquired company, contingent on future events or transactions.
4] The acquisition method follows the same GAAP for recording a business combination as we follow in recording the purchase of other assets and the incurrence of liabilities. We record the combination using the fair value principle. In other words, we measure the cost to the purchasing entity of acquiring another company in a business combination by the amount of cash disbursed or by the fair value of other assets distributed or securities issued. We expense the direct costs of a business combination (such as accounting, legal, consulting, and finders’ fees) other than those for the registration or issuance of equity securities.
The total amount assigned and the amount assigned to any major intangible asset class 2. The amount of any significant residual value, in total and by major intangible asset class 3. The weighted-average amortization period, in total and by major intangible asset class b. For intangible assets not subject to amortization, the total amount assigned and the amount assigned to any major intangible asset class. c. The amount of research and development assets acquired in a transaction other than a business combination and written off in the period and the line item in the income statement in which the amounts written off are aggregated.