The accounting of business acquisitions and disposals is one of the most important and most challenging areas for accountants.
The problem is that the accounting standards try to reflect best practices in this area, but it is hard to do so where there can be diversity in the types of businesses operated, the structure involved in the acquisition and disposal, not to mention divergences in opinions on value.
Accounting for Acquisitions and Disposals is measuring the cost of an acquired business only at the date of acquisition and recording any goodwill or other intangible assets arising on acquisition. A retained interest in an entity held for sale is accounted for as if sold to a third party with an immediate contractual obligation to sell it to another party.
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