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.
The FASB's updated guidance on the definition of a business is now effective for public companies. It determines whether a transaction should be accounted for as a business combination or asset acquisition. Listeners will learn more about the new definition and the impacts - both direct and indirect - on various areas of accounting.
Listen to our 16-minute podcast to learn more about the new definition of a business and the impacts - both direct and indirect - on various areas of accounting.