AC400 Advanced Accounting (3 cr.)

Prerequisite(s): AC305 
This course examines advanced accounting problems, theory, and financial statement presentations. Topics include consolidations, business combinations, governmental and nonprofit reporting, partnership accounting, and foreign exchange transactions.

Upon completion of this course, students are expected to be able to do the following:

1. Value and record business combinations.
2. Prepare consolidated financial statements, including international transactions with foreign currency exchange.
3. Apply consolidation techniques for outside ownership, acquisition, and asset transactions.
4. Articulate financial statement reporting and SEC requirements.
5. Recognize worldwide accounting diversity and International standards.
6. Apply accounting valuation methods to financial transactions.
7. Evaluate the formation, operation, termination, and liquidation in partnership accounting.
8. Assess the role of the accountant in estates and trusts.
9. Evaluate usefulness and limitations of advanced accounting topics.