ASC 805 Business Combination
Back Office Valuation & Consulting was employed by a valuation firm to assist in determining the fair value of a collection of intangible assets acquired by an industrial products company. We were able to assist them in determining the fair value of a trade name, two utility patents, assembled and trained workforce, and customer relationships. We created the deliverable on behalf of the valuation firm and assisted in answering the auditor’s questions to complete the engagement. We now serve as the valuation firm’s sole provider of financial reporting valuations.