What is the last step an acquirer in a business combination should take to properly account for the transaction?
1)Determine the fair value of each identified asset acquired and liability assumed on the acquisition date
2)Measure and recognize any noncontrolling interest in the acquiree (this step applies in cases which an acquirer acquires a less than 100 percent interest in another entity)
3)Identify all liabilities assumed in the transaction
4)Identify all assets acquired in the transaction