what is pushdown accounting 
pushdown accounting is a bookkeeping method used by companies to record the purchase of another company the acquirer s accounting basis is used to prepare the financial statements of the purchased entity in the process the assets and liabilities of the target company are updated to reflect the purchase cost rather than the historical cost this method of accounting is an option under u s generally accepted accounting principles gaap but is not accepted under the international financial reporting standards ifrs accounting standards 1 