Business Combinations F32-06b

What steps are involved when recording a business combination using the acquisition method?

1. Identifying the acquiring entity (the acquirer)
2. Determining the acquisition date and measurement period
3. Determining the cost of the acquisition
4. Recognizing and measuring the identifiable assets acquired, the liabilities assumed and any noncontrolling interest in the acquired business (the acquiree)
5. Recognizing and measuring goodwill or a gain from a bargain purchase, if any