When one entity consolidates another under reporting requirements, it reports the consolidated accounts of both its own as well as the other entity's assets, liabilities, revenues, and expenses, as if they are a single economic entity.

Consequently, the consolidation decisions can have significant impacts on the reported leverage, results of operations, and cash flows of the consolidated entity, which can then have major implications on the investors' decision-making.

In this assignment, you are required to describe the consolidation process based on the merger or acquisition of an Australian listed company where public information are available. (Hint: your discussion should cover all of the following areas)

1. What is the name of the acquiring company and the acquiree?

2. What was the amount and form of the purchase consideration (e.g. cash/equity) and the timeline of the merger or acquisition?

3. Identify any goodwill associated with the transaction. Was goodwill subsequently impaired and if yes, why?

4. Why control was acquired?

5. Provide your opinion on whether the transaction was beneficial for the shareholders of the acquiring company?

6. Critically analyses the advantages and disadvantages of consolidated financial statements.

7. Explain the nature of non-controlling interest and examine the disclosure of that interest in the consolidated financial statements.