FRF for SMEs - New Basis (Push-Down) Accounting
- The date of application of push-down accounting and the dates of the purchase or other transaction that led to its application.
- A description of transaction or event leading to the application of push-down accounting.
- Changes in major accounts resulting from the application of push-down accounting.
- In the fiscal period following the period push-down accounting was first applied, the date of its application, the amount of the revaluation adjustment and the equity account affected and the amount of retained earnings reclassified to other equity accounts.
by Larry Perry, CPA, CPA Firm Support Services, LLC - Larry has over 40 years experience as a CPA practitioner, author of accounting and auditing manuals, author and presenter of live staff training seminars and author of webcast and self-study CPE programs. He is co-founder of CPA Firm Support Services, LLC (www.cpafirmsupport.com), an organization providing resources, training and consulting to smaller CPA firms. Larry writes a weekly blog on AccountingWEB.com focusing on small audits, reviews and compilations. He is currently developing documentation manuals and handbooks for small audits, reviews and compilations and related electronic practice aids.