Nov 25, 2020  
2019 - 2020 Undergraduate Catalog 
2019 - 2020 Undergraduate Catalog [Archived Catalog]

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AC 410 - Advanced Accounting

Credits: (4 credits)

An in-depth study of consolidated financial statements, pre-acquisition and post-acquisition reporting, purchase method and pooling method of accounting.

Prerequisite: AC 311.

Learning Outcomes
Upon completion of this course, you should be able to do the following:

  1. Demonstrate an understanding of different types and methods of business expansions and combinations;
  2. Prepare journal entries using the cost, equity, or fair value method for accounting for investments;
  3. Develop a consolidation worksheet using spreadsheet software, such as Microsoft Excel, which includes calculations and elimination entries for the consolidation of a subsidiary under various acquisition scenarios;
  4. Demonstrate an understanding of accounting procedures used in consolidating a subsidiary when there are intercompany asset or debt transfers; 
  5. Prepare journal entries for the operation of a partnership, including formation, allocation of partnership profit or loss, changes in membership, and liquidation; 
  6. Demonstrate a basic understanding of the major concepts of governmental accounting; 
  7. Demonstrate an understanding of financial reporting and journal entry concepts for various types of private, not-for-profit entities.

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