BOND & PECARO

The Basis for Your Decisions

Accounting for Business Combinations: The FASB Acts

On June 27, 2001, the Financial Accounting Standards Board (FASB) took long awaited action upon its 1999 and 2001 Business Combinations and Intangible Assets exposure drafts. Statement 141, Business Combinations, and Statement 142, Goodwill and Other Intangible Assets, were released in late July 2001. With certain limited exceptions,Statement 141 will generally apply to all business combinations initiated after June 30, 2001, and Statement 142 will apply to fiscal years beginning after December 15, 2001.Click on the PDF link to see the full text.

Document
Accounting for Business Combinations: The FASB Acts