This publication provides a condensed summary of the significant provisions and implications of two accounting standards adopted in the fourth quarter of 2007 on the accounting for business combinations and non-controlling interests (minority interests) in consolidated financial statements (FAS 141R and FAS 160). The changes in these standards are pervasive and are likely to affect the planning and execution, as well as the accounting and disclosure, of M&A transactions. The changes will almost certainly affect how those transactions are communicated to stakeholders as well. For these reasons, understanding their impact is critical for finance leaders, deal makers, and senior executives.

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