Use the Internet to research two (2) publically traded U.S. companies, and download their financial statements. Assume you are the CEO of a major corporation. You are responsible for expanding the corporation through the acquisition of another company. Assume that the acquisition involved $15 million in goodwill.
Write a three to four (3-4) page paper in which you:
1.Provide an explanation for the business combination method you selected in expanding the corporation by acquiring another firm, your reason for selecting that business combination method, and how the purchase will grow the business. Identify at least five (5) possible synergies that could occur as a result of the proposed acquisition.
2.Analyze the accounting requirements for the business combination method you selected. Prepare consolidated financial statements for the date of acquisition.
3.Assume that, in year two (2) of operations, goodwill has been impaired. Explain to management how you determined goodwill was impaired and the financial impact of such impaired goodwill. Prepare the necessary accounting entries to recognize goodwill impairment.
4.Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
•Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
•Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
•Examine the business combination planning and accounting process.
•Analyze the accounting requirements for business combination and prepare the financial statements for the consolidation of subsidiaries on the date of acquisition.
•Use technology and information resources to research issues in advanced accounting.
•Write clearly and concisely about advanced accounting using proper writing mechanics

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