# ASC 805-20-65: Business Combinations — Identifiable Assets and Liabilities, and Any Noncontrolling Interest — 65 Transition and Open Effective Date Information

Source: FASB Accounting Standards Codification, Basic View

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## ASC 805-20-65: 65 Transition and Open Effective Date Information

[Read section](https://asc.understandingaccounting.org/asc/805/20/#65-transition-and-open-effective-date-information)

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##### [805-20-65-1](https://asc.understandingaccounting.org/asc/805/20/#805-20-65-1)

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Paragraph superseded on 07/02/2014 after the end of the transition period stated in Accounting Standards Update No. 2012-06, _Business Combinations (Topic 805): Subsequent Accounting for an Indemnification Asset Recognized at the Acquisition Date as a Result of a Government-Assisted Acquisition of a Financial Institution_.

#### Transition Related to Accounting Standards Updates No. 2014-18, <em class="ph i">Business Combinations (Topic 805): Accounting for Identifiable Intangible Assets in a Business Combination,</em> and No. 2019-06, <em class="ph i">Intangibles—Goodwill and Other (Topic 350), Business Combinations (Topic 805), and Not-for-Profit Entities (Topic 958): Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities</em>

##### [805-20-65-2](https://asc.understandingaccounting.org/asc/805/20/#805-20-65-2)

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The following represents the transition information related to Accounting Standards Updates No. 2014-18, _Business Combinations (Topic 805): Accounting for Identifiable Intangible Assets in a Business Combination,_and No. 2019-06, _Intangibles—Goodwill and Other (Topic 350), Business Combinations (Topic 805), and Not-for-Profit Entities (Topic 958): Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities,_referenced in paragraph [805-20-15-1A](https://asc.understandingaccounting.org/asc/805/20/#805-20-15-1A):

1.  a
    
    Upon adoption of the Accounting Alternative Subsections of this Subtopic, that guidance shall be effective prospectively to the first transaction that is identified in paragraph [805-20-15-2](https://asc.understandingaccounting.org/asc/805/20/#805-20-15-2) after the adoption of the accounting alternative.
    
2.  b
    
    Customer-related intangible assets and noncompetition agreements that exist as of the beginning of the period of adoption shall continue to be subsequently measured in accordance with Topic 350 on intangibles—goodwill and other. That is, existing customer-related intangible assets and noncompetition agreements should not be subsumed into goodwill upon adoption of the Accounting Alternative Subsections of this Subtopic.
    
3.  c
    
    [Subparagraph superseded by Accounting Standards Update No. 2016-03](https://asc.understandingaccounting.org/updates/asu-2016-03/).
    
4.  d
    
    A private company or not-for-profit entity that makes an accounting policy election to apply the guidance in the Accounting Alternative Subsections of this Subtopic for the first time need not justify that the use of the accounting alternative is preferable as described in paragraph [250-10-45-2](https://asc.understandingaccounting.org/asc/250/10/#250-10-45-2).

##### [805-20-65-3](https://asc.understandingaccounting.org/asc/805/20/#805-20-65-3)

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Paragraph superseded on 06/30/2025 after the end of the transition period stated in Accounting Standards Update No. 2021-08, _Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers._