Create journal entries identifying consolidations and investments. Consider the following: The various related costs involved in a business combination A business combination when the acquired firm retains its separate existence How goodwill is recorded in journal entries Prepare consolidated financial statements when goodwill is present. Complete foreign financial statement conversions. Consider the following: Account for foreign currency transactions using the two-transactions perspective, accrual approach. Account for forward contracts and options used as hedges of foreign currency. Account for forward contracts and options used as hedges of foreign currency firm commitments. Account for forward contracts and options used as hedges of forecasted foreign currency transactions. Compile calculated translation adjustment amounts