ACCT 613 - Advanced Topics in Accounting

Units: 3
Advanced topics include accounting for partnerships, business consolidations, foreign currency translation, state and local governments, and not-for-profit organizations.

Prerequisites: ACCT 612 with grade C or better.
Equivalent Quarter Course: ACCT 6620.
Possible Instructional Methods: Entirely On-ground.
Grading: A-F grading only.
Student Learning Outcomes - Upon successful completion of this course students will be able to:

Demonstrate accounting for the formation, dissolution, partner changes, earnings distribution, and liquidation of partnerships.
Explain consolidation issues and the development of accounting standards on consolidation for U.S. GAAP and IFRS.
Prepare consolidated financial statements with fully-and partially-owned subsidiaries as of the date of acquisition and for subsequent periods, including intra-entity transfer of assets.
Demonstrate the translation of foreign currency financial statements and explain their impacts on the consolidated financial statements.
Identify the format and content of a comprehensive annual financial report for state and local governments.
Describe the accounting for encumbrances, nonexchange revenue transactions, expenditures, and interfund activity for state and local governments.
Identify the format and content of financial statements for private not-for-profit organizations.
Measure, record, and report revenues and expenses for private not-for-profit organizations.