AC 401 - Auditing

• Assignments: 5 Units
• Interactivity: Discussion Board
• Final: None

• Demonstrate an understanding of different types and methods of business expansions and combinations.
• Prepare journal entries using the cost, equity, or fair value method for accounting for investments.
• 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.
• Demonstrate an understanding of accounting procedures used in consolidating a subsidiary when there are intercompany asset or debt transfers.
• Prepare journal entries for the operation of a partnership, including formation, allocation of partnership profit or loss, changes in membership, and liquidation.
• Demonstrate a basic understanding of the major concepts of governmental accounting.
• Demonstrate an understanding of financial reporting and journal entry concepts for various types of private, not-for-profit entities.