Merging? FASB clarifies disclosure requirements
Abstract: To ensure consistent financial reporting for business combinations involving public companies, the Financial Accounting Standards Board recently issued Accounting Standards Update (ASU) 2010-29, Disclosure of Supplementary Pro Forma Information for Business Combinations. The ASU reports on amendments to Accounting Standards Codification Topic 805, Business Combinations. This article talks about how the amendments affect timing considerations when companies disclose pro forma information on financial statements regarding business combinations.