ASU 2014-17 — Business Combinations (Topic 805)

The objective of this Update is to provide guidance for determining whether and at what threshold an acquiree (acquired entity) that is a business or nonprofit activity can reflect the acquirer's accounting and reporting basis (pushdown accounting) in its separate financial statements.

Paragraphs 805-50-S99-1 through S99-4 of the Codification provide limited guidance for SEC registrants for determining whether and when a new accounting and reporting basis should be established in an acquiree's separate financial statements. However, because diversity in practice exists with respect to the application of pushdown accounting among entities that are not SEC registrants, the amendments provide guidance for entities that are SEC registrants and for those that are not.

This Accounting Standards Update is the final version of Proposed Accounting Standards Update EITF-12F—Business Combinations—Pushdown Accounting (Topic 805), which has been deleted.

Issued: November 18, 2014