• Delta Dynamics, a multinational conglomerate with diversified business operations, acquired a controlling interest in a software development company specializing in artificial intelligence solutions. The acquisition was structured as a business combination, involving a combination of cash, stock issuance, and contingent consideration based on future performance metrics. Evaluate the application of the economic entity principle in the initial recognition, measurement, and subsequent accounting for business combinations, including considerations for fair value assessment, intangible asset recognition, and goodwill impairment testing, while ensuring compliance with accounting standards and regulatory requirements, and fostering transparency and accountability in financial reporting