Business Combinations

Business combinations and Impairment testing
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  Australian School of Business  ACCT 2542  –  Corporate Financial Reporting and Analysis Topic 4 - Business Combinations - Impairment of Assets Presented by: Dr Sarowar Hossain Office: QUAD 3083 8/31/2014 1  Australian School of Business Readings chapter 10: usiness combinations chapter 11: Impairment of assets  AASB 3: Business Combinations  AASB 136: Impairment of Assets  2  Australian School of Business Lectureobjectives Chapter 10 ã explain the basic steps in the acquisition method of accounting for business combinations (p. 446) ã describe how to recognise and measure the assets acquired and liabilities assumed in a business combination (p. 451) ã account for a business combination in the records of the acquirer (p. 457) ã prepare an acquisition analysis and account for the recognition of goodwill or gain from bargain purchase (p. 462) Chapter 11  describe when to undertake an impairment test (p. 515)  explain how to undertake an impairment test for an individual asset (p. 517)  identify a cash-generating unit, and account for an impairment loss for a cash-generating unit (p. 525)  apply the impairment model to a cash generating unit and account for impairment of goodwill (p. 532) 3  Australian School of Business Thenatureofabusinesscombination AASB3definesabusinesscombinationas: ‘atransactionorothereventinwhichanacquirerobtainscontrolofoneormorebusinesses’   A‘business’isnotjustagroupofassets,rather,itisan entityabletoproduceoutputControlexistswhenaninvestorisexposed,orhasrights,tovariablereturnsfromitsinvolvementwiththeinvesteeandhastheabilitytoaffectthosereturnsthroughitspowerovertheinvestee. 4
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