M&A Accounting

FASB Statements

FASB 141 Business Combinations 2001

Requires purchase accounting for business combinations initiated after 6.30.01
Provides guidance on identifying the acquiring entity
see paragraphs 15 - 19

FASB 142 Goodwill and Other Intangible Assets 2001

Eliminates mandatory scheduled amortization of goodwill and indefinite-lived intangible assets

Goodwill instead must be tested for impairment at least annually
Using reporting units: a FASB 131 operating segment or one level below see Segment Reporting
Amortization period of intangible assets that have finite lives is no longer limited to forty years
Requires additional financial statement disclosures about goodwill and intangible assets

Commentary, etc.

FASB Project - Purchase accounting procedures

Financial Institution Acquisitions

FASB 147 2002

FASB 72 2002

FIN 9 1976

INDOPCO v Commissioner, 503 U.S. 79 1992

Proposed Treasury Department regulations

SAB 103

Accounting FAQs March 2001

Current accounting issues Aug 2001

SEC's Current accounting issues Mar 2005

SEC's Current accounting issues Dec 2005

News Items

Viacom takes $18 billion goodwill charge

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