The accounting for business combinations (ASC 805), discontinued operations, divestitures, and related topics such as impairments, intangibles, and segment reporting continue to pose many challenges and remains on the SEC's radar screen.
Read the latest developments on these accounting for business combinations topics:
Refer to PwC’s In depth on the new pushdown accounting standard for more information.
Among the continuing areas of challenge for preparers and users is the application of guidance for:
In addition to being complex, applying the relevant accounting guidance often involves significant judgments and estimates to be determined by both financial and non-financial management. PwC has a publication series entitled “Mergers & acquisitions - a snapshot” that takes these topics and addresses them in a plain-English manner. PwC has issued multiple publications from this series which are available on the M&A snapshot page in the “Publications” section of this website. Last year PwC issued a series that focused on navigating unique issues of a cross-border acquisition. PwC recently commenced a series focused on navigating the stages of bankruptcy.
Four publications have been issued in the series so far that cover an overview of the turnaround process, various aspects of the bankruptcy process and the financial reporting requirements, considerations when emerging from bankruptcy, and most recently tax considerations.
This PwC guide explains the principles of accounting and financial reporting for business combinations and noncontrolling interests (ASC 805) under both U.S. GAAP and IFRS. This guide includes our perspectives on the application of those principles, and our insights on the challenges of accounting for intangible assets and goodwill in the post-combination period. Read more
The FASB has proposed a new definition of a business, which would result in more asset (versus business) acquisitions.
Changes in the business landscape can result in personnel restructuring or exiting leased facilities. Listen now to learn more.
In the past few years, more companies have reported material weaknesses in advance of their IPO. With the timing of this disclosure, companies are alerting investors but also disclosing remediation plans in their initial registration statements.
This webcast focuses on specific valuation topics as well as financial reporting requirements under US GAAP both during, and upon emergence from, bankruptcy.
FASB eliminates the requirement to restate prior period financial statements for measurement period adjustments.
This quarterly publication is designed to keep directors informed about the latest accounting and financial reporting issues.
Selected quarterly financial data described in Item 302(a) of Regulation S-K is generally not required to be included in a prospectus for an initial public offering, but is required in registration statements on Form S-1 and in Annual Reports on Form 10-K filed subsequent to the completion of an initial public offering and the registration of securities under Section 12(b) or 12(g) of the Exchange Act. This practical tip explains the requirements for providing selected quarterly financial data in filings and gives a practical example.
This edition features recent FASB, SEC, and PCAOB developments, as well as accounting and governance hot topics.
Considering an IPO? Hear our Top 5 SEC reporting items when making the push to go public.
Doing an acquisition overseas? In this episode PwC's Jim Gazley, Beth Paul and Anthony Greco discuss some unique points to consider in a cross border acquisition.