In 2001, the FASB eliminated the use of the pooling-of-interests method of accounting for business combinations. Purchase accounting is now required for all transactions. MPI offers the following purchase price allocation services to assist companies and their advisors in accounting for business combinations:
• Provide guidance in determining the intangible assets to be recognized apart from goodwill;
• Perform independent purchase price allocations, including the determination of fair values for financial, tangible and intangible assets; and
• Allocate the excess of cost over the fair value of acquired assets to goodwill.
