Accounting to Be Clarified on Contract Liabilities in a Business Combination
Thoughtware Article
Published: Dec 17, 2020
Authors
On December 15, 2020, FASB issued a proposal that would add guidance in Accounting Standards Codification (ASC) 805, Business Combinations, to require an acquirer to recognize and measure contract assets and liabilities acquired in a business combination in accordance with ASC 606. This article provides details on the proposal.
