SFAS 141 requires acquisitions previously accounted for as poolings be converted to purchase accounting.

Name: SFAS 141 requires acquisitions previously accounted for as poolings be converted to purchase accounting.
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SFAS 141, issued in 2001, eliminated the pooling-of-interests method for business combinations, requiring the purchase method for new acquisitions, but it did not require conversions of past poolings to purchase accounting.

SFAS 141 Requires Acquisitions Previously Accounted for as Poolings Be