ACCT 411 - Advanced Financial Accounting

Advanced topics in financial accounting include accounting for foreign currency transactions and translation, equity investment and consolidation, and segment reporting.

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


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

1. Identify and apply the equity method of accounting to an investment.
2. Identify and apply appropriate accounting procedures to record and report derivative financial instruments.
3. 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.
4. Apply appropriate accounting procedures to prepare consolidated financial statements in periods subsequent to acquisition, including intraentity transfer of assets.
5. Apply appropriate accounting procedures to translate financial statements in foreign currency and explain the impact from the translation on the consolidated financial statements.
6. Recall the criteria used to identify and disclose reportable segments.