Two accounting statements from the Financial Accounting Standards Board could have a large impact on accounting firms and their business clients, said accounting firm BDO Seidman.
"These are major changes that can have far-reaching effects on both the art of the deal and the morning after," said Ben Neuhausen, a partner and national director of accounting at BDO Seidman, in a statement. "The changes in accounting for business combinations could make the earnings impact more difficult to forecast. Unexpected acquisition costs may arise, and future expenses may be tied to asset valuations that are difficult to predict, especially in today's economy. This puts a priority on preparation."
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