ACCT 413 - Advanced Accounting I

1. Recognize and account for a variety of business combinations.
2. Prepare consolidated financial statements as of the date of acquisition and for periods subsequent to the date of acquisition, focusing on asset valuation, goodwill, depreciation and amortization of any difference between cost and book values, and elimination of profit from intercompany asset transfers.
3. Explain how an enterprise determines its operating segments and basic disclosure requirements.
4. Construct accounting entries for foreign currency transactions and employ translation procedures for foreign currency financial statements.
5. Apply proper methods of accounting for legal reorganizations and liquidations.
6. Account for partnership formation, earnings distribution, and dissolution.
7. Identify and implement proper methods of accounting for estates and trusts.