Odomirok.22-23-GAAP

Chapter 22 is about U.S. GAAP accounting. Chapter 23 is about Fair Value Under Purchase GAAP.

BattleTable

Based on past exams, the main things you need to know (in rough order of importance) are:

reference	part (a)	part (b)	part (c)	part (d)
E (2017.Fall #12)	SAP: B/S & I/S items	GAAP: B/S & I/S items
E (2017.Fall #19)	GAAP: components of, and methodology for calculating, fair value of liabilities	SAP v GAAP: goodwill
E (2017.Fall #20)	SAP v GAAP: purpose	SAP v GAAP: acquisition costs, nonadmitted assets
E (2016.Fall #18)	calculate: GAAP value of goodwill using cost of capital (3.25 pts)	SAP: calculation & amortization of goodwill
E (2016.Spring #15)
E (2014.Fall #15)	calculate: surplus (6 pts)
E (2014.Fall #19)	calculate: GAAP surplus (3.25 pts)	SAP v GAAP: B/S items
E (2014.Spring #21)	SAP v GAAP: intended user	SAP v GAAP: DAC, discounting losses	SAP v GAAP: justify part (b) given answer to part (a)	general: why rent furniture (versus buy)
E (2014.Spring #22)
E (2014.Spring #23)	calculate: 10-yr loss development table	general: comment on accuracy of loss & DCC reserves
E (2012.Fall #23)

BattleCodes

Memorize:

Conceptual:

Calculational: