Extension of "Grandfather" Provisions for Business Combinations—an amendment of APB Opinion No. 16

Summary

This Statement eliminates the five-year limitation in the grandfather provisions of APB Opinion No. 16, Business Combinations, and in AICPA Accounting Interpretations 15, 16, 17, 24, and 26 of Opinion 16 that allow an exemption from certain criteria for applying pooling of interests accounting to business combinations.