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Your assignment is to prepare and submit a paper on applying the acquisition method joint project of the iasb and fasb.

Your assignment is to prepare and submit a paper on applying the acquisition method joint project of the iasb and fasb.

Your assignment is to prepare and submit a paper on applying the acquisition method joint project of the iasb and fasb. The primary objective of the project is to create a standard of accounting for business combinations that can be used for both domestic and global financial reporting. The goal is to establish a standard that encompasses a common set of principles and guidance that yields information useful for decision-making. Furthermore, the Boards believe a standard should improve the usability of financial information in regard to business combinations by explaining which assets and liabilities are to be recognized, by requiring that the assets obtained and the liabilities taken on are measured consistently and relevantly, and by ensuring that like events are comparably accounted for via a clearly defined scope of the standard.

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