A client understands that a business combination recently entered into is required to be accounted for under the acquisition method. The client would like to understand what steps are required to be followed under that method. Identify the location in professional standards that indicates the steps that are required in applying the acquisition method. Using the table below, enter the exact section and paragraph with helpful information for this scenario. (Correctly formatted FASB ASC paragraphs are 1, 2, or 3 digits followed in some cases by 1 or 2 upper case letters. An example of a correctly formatted FASB ASC response is 205-10-25-2.)