Close
Close

Comment: FASB’s proposed ASU could complicate business combinations accounting

Download RFP
Grant Thornton submitted a letter to the FASB commenting on a proposed Accounting Standards Update, Business Combinations (Topic 805): Revenue from Contracts with Customers – Recognizing an Assumed Liability (a consensus of the FASB Emerging Issues Task Force). While the firm supports the intent to clarify guidance related to deferred revenue of an acquiree, Grant Thornton expresses the concern that the amendments and others that might be prompted by other comments might spur more amendments and increase the complexity of business combination accounting. The firm details this in answering questions posed by the FASB.

Read our full comment letter