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5 Cards in this Set

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Acquisition Method
If the assets and liab. do not constititute a business, then the transacton is accounted for as an asset acquisiton. Assets are recorded at the amont of cash paid.
Asset Acquisiton
If assets are not acquired with cash, then the assets are recorded at their fair value. No goodwill is recorded in an asset acquisiton
Acquisiton related costs
are expensed except for the costs of registering and issuing debt and equity securities. These are netted against the proceeds of the stock and reduce the paid in capital in excess of par account. Bond Issue Costs are deferred and amortized on a str line basis over the life of the bond.
Variable interest entity
should be consilidated by the enterprise that has a controlling financial interest and is the primary beneficiary.
Controlling financial interest
2 characteristics
1)The power to direct activities of the variable interest entity that most significantly affects performance
2)The obligaton to asbsorb the losses or receive the benefits of the variable interest entity.