Identifying and valuing intangible assets in advance of a purchase has become a valuable step in the due diligence process.
Under SFAS 141R, there will be greater time pressure. SFAS 141 allowed a company one year to complete its purchase accounting.
Obtaining an objective valuation is a key component of the restructuring process.
Perhaps the most significant difference in approach relates to the way in which contingent liabilities assumed in a business combination are reported.
In the original Practice Aid, there was no mention of the back-solve approach. Since then the technique has come into widespread use.