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Wiley GAAP 2021, 2nd Edition
book

Wiley GAAP 2021, 2nd Edition

by Joanne M. Flood
March 2021
Intermediate to advanced content levelIntermediate to advanced
1424 pages
51h 16m
English
Wiley
Content preview from Wiley GAAP 2021, 2nd Edition

APPENDIX ADEFINITIONS OF TERMS

(Note: Items with an asterisk are pending implementation of ASU 2016‐02, Leases)

Acquiree. Topics 805, 840, 842, 958. The business or businesses that the acquirer obtains control of in a business combination. This term also includes a nonprofit activity or business that a not‐for‐profit acquirer obtains control of in an acquisition by a not‐for‐profit entity.

Acquirer. Topics 805, 842, 954, 958. The entity that obtains control of the acquiree. However, in a business combination in which a variable interest entity (VIE) is acquired, the primary beneficiary of that entity always is the acquirer.

Acquisition by a Not‐for‐Profit Entity. Topics 270, 350, 420, 450, 460, 730, 740, 805, 815, 820, 840, 842, 954, 958, 985. A transaction or other event in which a not‐for‐profit acquirer obtains control of one or more nonprofit activities or businesses and initially recognizes their assets and liabilities in the acquirer's financial statements. When applicable guidance in Topic 805 is applied by a not‐for‐profit entity, the term “business combination” has the same meaning as this term has for a not‐for‐profit entity. Likewise, a reference to business combinations in guidance that links to Topic 805 has the same meaning as a reference to acquisitions by not‐for‐ profit entities.

Acquisition Date. Topics 450, 740, 805, 954, 958. The date on which the acquirer obtains control of the acquiree.

Acquisition, Development, and Construction Arrangements. Topics 310, ...

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Publisher Resources

ISBN: 9781119736172