Advanced Accounting (6 Credits)
Learning Outcomes:
Explain the concept of business combination, concept of control, and concept of group reporting; 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; Apply consolidation principles of changes in ownership interest, indirect and mutual ownerships subsidiaries for consolidated financial statements; Apply the concept and the accounting method of intercompany bond; Apply business combination and consolidation of special purposes entities.
Topics:
- Introduction to Business Combinations and the Conceptual Framework
- Accounting for Business Combinations
- Consolidated Financial Statement – Date of Acquisition
- Consolidated Financial Statement After Acquisition
- Allocation and Depreciation of Differences Between Implied and Book Values
- Elimination of Unrealized Profit on Intercompany Sales of Inventory
- Elimination of Unrealized Gains and Losses on Intercompany Sales of Plant and Property
- Intercompany Bond Holdings and Miscellaneous Topics
- Changes in Ownership Interest
- Intercompany Bond Holdings and Miscellaneous Topics – Consolidated Financial Statements
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