People Innovation Excellence


Learning Outcomes:

On successful completion of this course, student will be able to: Explain the concept of business combination, concept of group reporting, and insolvency; Prepare the consolidated financial statement on the date and after the acquisition; Prepare consolidated work papers for intercompany sales of inventory, property, equipment, and bond using cost and complete equity methods; Prepare trustee reporting during liquidation or reorganization; Apply the accounting for foreign currency transactions, hedging, and financial statements of foreign affiliates.


  1. Introduction to Business Combinations, Conceptual Framework and Accounting for Business Combinations;
  2. Consolidated Financial Statements – Date of Acquisition;
  3. Consolidated Financial Statements after Acquisition;
  4. Allocation and Depreciation of Differences between Implied and Book Values;
  5. Elimination of Unrealized Profit on Intercompany Sales and Inventory;
  6. Elimination of Unrealized Gains or Losses on Intercompany Sales of Property and Equipment;
  7. Intercompany Bond Holdings and Miscellaneous Topics – Consolidated Financial Statements;
  8. Changes in Ownership Interest;
  9. Insolvency – Liquidation and Reorganization;
  10. Accounting for Foreign Currency Transactions and Hedging Foreign Exchange Risk;
  11. Translation of Financial Statements of Foreign Affiliates

Published at : Updated

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