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Old 06-01-2018, 05:47 AM
JessyR JessyR is offline
Join Date: Nov 2008
Posts: 20
Default Purchase Accounting, reset AOCI to 0

Have a first time case of a business combination.

Last FAS 158 reporting was done on 31/12/2017. I have now received information from the client that the acquisition date is 30th September 2017 and they now have an on going audit to enable the purchase accounting. In light of this I have been informed to reset the AOCI to 0 as of 30/9/2017.

My question is what happens to the earlier AOCI base? Does the Acquirer company absorb it in their AOCI/books on date of acquisition?

Thanks in advance for your help!!
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Old 06-01-2018, 08:29 AM
Don Quijote Don Quijote is offline
Join Date: Sep 2001
Posts: 1,386

I don't know about FAS 158, but on the non-pension part of the balance sheet, all assets are marked to market for PGAAP. So AOCI does go to zero on purchase date for that.
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