FASB Statements 141R and 160: Meeting the Compliance Challenge

Mastering the New Accounting Standards for Business Combinations

Recording of a 100-minute CPE webinar with Q&A

Conducted on Wednesday, March 12, 2008

Course Materials


The rules of the game for how auditing firms help corporate clients account for business combinations and non-controlling interests in subsidiaries changed in December when FASB issued final versions of Statement 141R and Statement 160.

Both public and private company acquirers will have to use purchase accounting for all mergers, not just those in which they receive direct compensation. Plus, parent companies will have to report a minority interest in subsidiaries as equity in consolidated financials.

While these significant changes would be mandatory until fiscal years starting on or after Dec. 1, 2008, that gives accounting firms and their corporate clients the time they need to refine accounting and reporting practices.

Listen as our panel of veteran advisors takes you to the bottom line of the new FASB guidance—both the material terms and specific steps your accounting firm should take to prepare for them.



The panel fully prepares you in these and other vital topics: 

  • What is changing in standards for accounting for business combinations and minority interests in subsidiaries, and when these changes take effect.
  • Where the new FASB guidance is likely to trigger conflicts between accounting firms and their clients.
  • How to fine-tune data-gathering and reporting procedures at both accounting firms and corporations.


Thomas Selling
Thomas Selling
Independent CPA and Consultant
Independent CPA and Consultant

He consults on financial reporting and management topics. He's a frequent writer on accounting topics and an emeritus...  |  Read More

John Formica
John Formica

He leads a firm project that follows FASB and IASB business combinations and consolidations projects. He has more than...  |  Read More

Mike Maffei
Mike Maffei
Manager, National Accounting Department

He works with clients and engagement teams on accounting and reporting issues, especially regarding derivatives and...  |  Read More