Nov 30, 2023
ACCT 613 - Advanced Topics in Accounting
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.
Possible Instructional Methods: On-ground, or Hybrid or Online-Asynchronous.
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.
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