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Consolidation Is Like Writing Your Name in Wet Concrete, That

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Consolidation is like writing your name in wet concrete, that is, once the concrete is set, the information "written" is fairly lasting, but while the concrete is setting, the information can be wiped out in the case of amnesia or scribbled over in the case of


Definitions:

Contingent Consideration

A future payment in a transaction that is dependent on specific outcomes or events.

IFRS 3

Refers to the International Financial Reporting Standard that covers the accounting treatment for all business combinations, including the recognition and measurement of goodwill and determination of fair value for identifiable assets and liabilities.

Business Combinations

The uniting of separate companies, assets, or entities into one through various types of financial transactions, including mergers and acquisitions.

Journal Entry

A record in accounting that notes a specific financial transaction in a company's books, involving debits and credits to various accounts.

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