Abstract
The article discusses Financial Accounting Standards 141R
(FAS 141R) issued by the Financial Accounting Standards Board (FASB) in
December, 2007, and due to take effect December 15, 2008. FAS 141R
mandates changes in reporting and accounting treatment for business
acquisitions. Broadly speaking, acquisitions will be valued by the
acquiring firm at fair value rather than historical cost. FAS 141R
details changes in five areas, including accounting for transaction
costs, earn-outs, in-process research and development, acquired
contingencies, and partial acquisitions.
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