[2] Effective for financial statements issued for interim and annual periods ending after September 15, 2009, the FASB "Accounting Standards Codification" ("ASC") reorganizes the FASB statements and represents a single authoritative source of U.S. accounting and reporting standards for nongovernmental entities.
As of the acquisition date, the target company reported net identifiable assets of $8B on its own balance sheet.
In order to correctly report the combined company post-acquisition, one needs to evaluate the assets and liabilities being acquired and their Fair Value ("FV") -- the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
This can include, but is not limited to, customer relationships, technology, order backlog, brand, favourable- or unfavourable contracts, investments in associates.
Note that a purchase price may be less than the target's balance sheet value for a variety of reasons, which can lend itself to a write-down of net assets.