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: