Aug 10, 2020  
2016-2017 Saint Joseph’s College Online 
2016-2017 Saint Joseph’s College Online [Archived Catalog]

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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

Assignment Overview
  • 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.

Credits: 3

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