TimeTech's Consolidated Financial Statements Following the Acquisition of ChipTech

Student-led · From acquisition-date accounting through to the three consolidated statements, NCI, deferred tax and a complete audit-evidence loop

Level：Management Duration：about 120 min Points available：13 Agent roles：5

A student-led consolidation exercise: prepare TimeTech's first quarterly consolidated financial statements after its acquisition of 80% of ChipTech — from acquisition-date goodwill and non-controlling interests through to the consolidated statements, deferred tax, intragroup eliminations and audit evidence.

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The question

The group is preparing its first quarterly consolidated financial statements that include ChipTech, and must address acquisition-date fair values, deferred tax, intragroup transactions, unrealised profit, non-controlling interests and the presentation of acquisition cash flows.

Company background

On 1 January 2026, TimeTech Ltd. acquired an 80% equity interest in its core chip supplier ChipTech Ltd. for cash, thereby obtaining control.

Techniques

购买日会计与商誉合并损益与非控股权益合并财务状况表与集团权益合并现金流、证据与控制专业沟通、询证与挑战回应

Who it suits

Recommended for Management-level learners consolidating a group for the first time — working from acquisition-date accounting through to the full set of consolidated statements and the audit evidence behind them.

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