Advanced Accounting II (4 Credits)

Learning Outcomes:

Explain the concept of business combination, concept of control, and concept of group reporting; Apply the consolidated financial statement, the elimination principles of intergroup transactions, and profit for controlling interest as well as non controlling interest; Apply consolidation principles of changes in ownership interest, indirect and mutual ownerships subsidiaries for consolidated financial statements; Apply the concept of intercompany bond holdings and the accounting for intercompany bond; Explain the concept of liquidation and reorganization

Topics:

1. Introduction to Business Combinations and the Conceptual Framework
2. Consolidated Financial Statement – Date of Acquisition
3. Consolidated Financial Statement After Acquisition
4. Allocation and Depreciation of Differences Between Implied and Book Values
5. Elimination of Unrealized Profit on Intercompany Sales of Inventory
6. Elimination of Unrealized Gains and Losses on Intercompany Sales of Plant and Property
7. Changes in Ownership Interest
8. Intercompany Bond Holdings
9. Indirect and Mutual Holdings
10. Liquidation and Reorganisation