Defining Issues: Recognition and Measurement in a Business Combination of Assets and Liabilities Arising From Contingencies
Apr 06, 2009
From the Financial Reporting Network
This edition of Defining Issues describes FSP FAS 141(R)-1, "Accounting for Assets Acquired and Liabilities Assumed in a Business Combination That Arise from Contingencies."
The FSP amends FASB Statement No. 141(R), Business Combinations, to address concerns related to the initial recognition and measurement, subsequent accounting, and disclosures of contingencies in business combinations.
The FSP has the same effective date as Statement 141(R).