Applying financial reporting standards can be quite complex. The BDO team can help you assess your situation and prepare for the opportunities and challenges involved.
Section 1601 applies to:
- Consolidation accounting following a business combination that involves a purchase of an equity interest by one company in another.
- The guidance in this Section can also be used in situations involving a combination or consolidation other than through purchase of an equity interest or involving unincorporated businesses.
Section 1602 sets out:
Standards for accounting for a non-controlling interest in a subsidiary in consolidated financial statements subsequent to a business combination