Premium Essay

Yes It Is

In: Business and Management

Submitted By teb10c
Words 289
Pages 2
• Allfoods Corp. acquired 80% of the outstanding common stock of Baked Beans Corp in a business combination on February 1, 2009.
• Allfoods paid $40 million in cash
• and issued two million shares of Allfoods common stock to the selling shareholders of Baked Beans.
• Allfoods stock options will replace all outstanding stock options granted to Baked Beans employees as required by the merger agreement.
• has been accounted for in accordance with ASC 805, Business Combinations.
• consideration transferred amounts to $135 million, land and buildings should be recorded using the “in-use” valuation premise and intangible assets should be recorded at fair value.
• ASC 718, ASC 805-10-25-23, ASC 805-20-25-4, ASC 805-20-30-6, ASC 805-30-25, ASC 805-30-30-7, ASC 805-30-30-9, ASC 805-30-30-11, ASC 820-10-35-10, ASC-820-10-35-11.

Consideration Transferred
• ASC 805-30-30-7 requires that an acquirer measure and recognize the fair value of the consideration transferred in a business combination as of the acquisition date.
• ASC 718 is applied to measure the share based payment awards.
• Consideration transferred may include cash, other tangible and intangible assets, business and subsidiary of acquirer, contingent consideration, equity instrument etc.

Common Stock

• According to ASC 805, equity securities (common stocks) issued as consideration in business combination should be measured at fair value as of the acquisition date.

Contingent Consideration

• ASC 805-30-25 states that the acquirer shall recognize the acquisition date fair value of contingent consideration as part of the consideration transferred in exchange for the acquiree.

Replacement Stock Option

• ASC 805-30-30-9 states that if the acquirer is obligated to replace the acquiree awards, either…...

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