AC 410 - Advanced Accounting

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.