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.
PwC’s accounting and financial reporting guide for Business combinations and noncontrolling interests – 2014 global edition, describes, in detail, the guidance under both U.S. GAAP and IFRS and PwC’s perspectives on the application of those principles with respect to the accounting and reporting for business combinations and noncontrolling interests. This guide also provides our insights on the challenges of accounting for intangible assets and goodwill in the postcombination period. The 2014 edition of the guide contains updated material incorporating authoritative standards and interpretive guidance issued through April 30, 2014. A summary of significant changes from the 2013 edition is located in Appendix D of the guide.
This guide has been prepared to support you as you consider the accounting for transactions and address the accounting, financial reporting, and related regulatory matters relevant to business combinations and noncontrolling interests. It should be used in combination with a thorough analysis of the relevant facts and circumstances, review of the authoritative accounting literature, and appropriate professional and