AC 420 - Advanced Topics in Financial Accounting

• Assignments: 5 Units
• Interactivity: Discussion Boards
• Final Assessment: Final Paper

• 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.