Topic #1: One Plus One Equals One
In the case of human relations, marriages occur frequently. Once the business combination occurs, the assets and liabilities of the company become one. This is the same when a parent company buys a subsidiary corporation. You have noticed in your reading that inter company transfers must be adjusted. With this in mind, please answer the following questions:
Why are adjustments necessary for inter company transfers?
What are some ways the financials would be misstated if these inter company transfers were not adjusted?
Provide an example on how a firm could manipulate the firm’s financial position and how these inter company entries fix this problem.
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