Aug 10, 2020
AC 420 - Advanced Topics in Financial Accounting
An examination of advanced concepts of accounting for business combinations with emphasis on the consolidation of parent/subsidiary balance sheet and income statement reporting, foreign currency translation, partnerships formation and liquidation, as well as special reporting requirements for multinational entities.
Prerequisites & Notes
AC 310, AC 311
- Assignments: 5 Units
- Interactivity: Discussion Boards
- Final Assessment: Final Paper
Course Learning Objectives
Upon completing this course, you should be able to do the following:
- Interpret and apply generally accepted accounting principles to measuring, recognizing, disclosing, and reporting financial transactions and information.
- Recognize and apply procedures to special accounting issues in business combinations.
- Prepare consolidated financial statements.
- Assess inter-company transactions that relate to assets and liabilities.
- Compute and prepare cash flows, earning per share, and tax allocation for consolidated companies.
- Explain the basic characteristics and operating procedures of partnerships.
- Account for partnership formation, business transactions, ownership transactions, and liquidation.
- Define the role of the financial accountant in the organization as it pertains to accounting control and reporting including ethical responsibilities.
- Prepare entries related to governmental entities and general fund accounting.
- Prepare entries to record transactions related to not-for-profit entities.
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