Review of FASB business combinations standard yields mixed results

05/22/2013 | JournalofAccountancy.com

A Financial Accounting Foundation post-implementation review team found that the Financial Accounting Standards Board’s standard on business combinations is generally understandable, provides useful information and can be applied as intended. But the review said investors question the reliability of some of the reported information arising from the standard, and fair value measurement requirements are more costly and complex for preparers than FASB intended.

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