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Business Combinations Checklist

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Product Code: SOP V-SD-205

As business combinations are considered, management performs thorough due diligence to ensure that all tangible and intangible assets acquired and all liabilities assumed have been identified. The fair value of the acquired entity is determined by qualified internal or external valuation expert in accordance with FASB Statement No. 141. When considering an acquisition, management segregates duties between those committing the entity to the transaction and those responsible for undertaking the due diligence and valuation activities.  Identifiable intangibles are assigned appropriate lives and are amortized in accordance with FASB Statement No. 142. On an ongoing basis and as required, the Board of Directors reviews and approves transaction details after the completion of due diligence activities.  Approval is documented in minutes and on Due Diligence Review.

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