ACCT 411 - Advanced Financial Accounting

Units: 3
Advanced topics in financial accounting include accounting for partnerships, business investment and consolidation, and foreign currency translation.

Prerequisites: ACCT 312 with grade C or better.
Equivalent Quarter Course: ACCT 4211.
Possible Instructional Methods: Entirely On-ground, or Entirely Online.
Grading: A-F grading only.
Course Typically Offered: Fall & Spring

Student Learning Outcomes - Upon successful completion of this course students will be able to:

Summarize accounting for the formation, dissolution, partner changes, earnings distribution, and liquidation of partnerships;
Identify and apply appropriate accounting classification, measurement, and reporting for equity investment;
Categorize consolidation issues and compare accounting standards on consolidation under U.S. GAAP and IFRS;
Apply appropriate accounting procedures to prepare consolidated financial statements for the parent company with its fully- and partially-owned subsidiaries as of the date of acquisition;
Apply appropriate accounting procedures to prepare consolidated financial statements in periods subsequent to acquisition, including intra-entity transfer of assets;
Apply appropriate accounting standards under U.S. GAAP and IFRS to translate foreign currency financial statements and explain the impact from the translation on the consolidated financial statements.