Hi Sol,
I have carefully read your discussion post on the case where Innovus, Inc., acquired 100 percent of the common stock of ChipTech Company. I have analyzed the consolidated trial balance that was prepared, and one of the significant points that impressed me was the clear and in-depth itemization of the expenses, incomes, and cost of investment that provide an accurate representation of the financial transactions transpired in the fiscal period. One primary concern that I found with your post was that the financial statement did not balance. Such is indicative that there were some errors and inconsistencies in capturing the different items in the trial balance preparation. To sum up, your discussion post is well put together and takes due consideration of the financial accounting standards board recommendations in financial reporting. The classification of assets, expenses, revenues in-depth shows that you are conversant with the accounting principles. Good job.
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