Guide to Consolidated Journal Entries and Guide to Business Combinations

This is a 12 page, step by step guide to help you approach a consolidation question in your accounting exam.

Areas covered:
1. Goodwill calculations
2. Basic journal entries at acquisition
3. Journal entries for subsequent years
4. Fair value adjustments
5. Inventory adjustments (URP)
6. Intra-group transfer of assets
7. Dividend elimination
8. Other intra-group eliminations

Also contains two consolidation worksheets (SOCI and SOFP)

Please note: Guide excludes deferred tax implications upon consolidation.


Free: Guide to Business Combinations
Business combinations can be confusing This guide takes you step by step through the whole acquisition process. Print it out and place in your exam folder for quick and easy reference.

Issues covered:
- Acquirer indicators
- Establishment of a new entity
- Reverse acquisitions
- Acquisition date indicators
- Measuring cost
- Assets held for sale
- Non-controlling interest
- Full goodwill method
- Partial goodwill method
- Negative goodwill (Bargain purchase)
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