A.14 Foreign Currency Translation

ASC 830-30-45-11 states that “[a]fter a business combination, the amount assigned at the acquisition date to the assets acquired and the liabilities assumed (including goodwill or the gain recognized for a bargain purchase in accordance with Subtopic 805-30) shall be translated in conformity with the requirements of this Subtopic [ASC 830-30].” This requirement applies regardless of whether the entity elects to apply pushdown accounting.