Advanced Accounting

General

Prefix

ACCT

Course Number

481

Course Level

Undergraduate

Department/Unit(s)

College/School

Herberger Business School

Description

Accounting for business combinations, consolidated financial statements, and partnerships.

Prerequisites

Credits

Min

3

Max

3

Repeatable

No

Goals and Diversity

MN Goal Course

No

Cultural Diversity

No

Learning Outcomes

Outcome

Prepare consolidated financial statements in conformity with GAAP and explain and interpret the following complicating factors: a. partial ownership of investee companies, b. valuation differentials, and c. intercompany inventory, plant asset, and bond transactions.

Outcome

Compute basic and diluted earnings per share for a consolidated entity.

Outcome

Allocate income for complex ownership structures involving indirect and mutual stock holdings.

Outcome

Analyze and record partnership transactions for: a. formation of partnership, b. subsequent operation of the partnership, c. changes in ownership interests, and d. partnership liquidation.

Outcome

Prepare partnership financial statements and associated allocations for partnerships.

Dependencies

Programs

ACCT481 is a completion requirement for: