Advanced Accounting
Course Code: ACG 4201
Credit Hours: 3
Effective beginning: 2020-21
Course Description:This course is an in-depth study of financial reporting concepts and generally accepted practice for business combinations, consolidated enterprises, foreign operations, partnerships, non-profit organizations, and government entities. There is also emphasis on analyzing financial events and the consequences of financial reporting alternatives.
Course Details
Prerequisites:
ACG 3111
Instructors:
As Assigned
Required textbooks/ course materials:
Advanced Accounting with Access Code (3rd Edition), 2016, Hamlen, Huefner, & Largay, Cambridge Business Publishers, ISBN-13: 9781618531513.
Assignment/course outline:
The following topics will be covered in this course at the discretion of the instructor:
- Intercorporate Investments: An Overview
- Mergers and Acquisitions
- Consolidated Financial Statements: Date of Acquisition, Subsequent to
- Acquisition, Outside Interests, Intercompany Transactions
- Consolidating Foreign Currency Financial Statements
- Foreign Currency Transactions and Hedging
- Futures, Options and Interest Rate Swaps
- State and Local Governments: Introduction and General Fund Transactions
- Other Transactions, External Financial Reporting
- Private Not-For-Profit Organizations
- Partnership Accounting and Reporting
- Bankruptcy and Reorganization
- The SEC and Financial Reporting
See your Instructor First Day Handout for individual instructor assignment schedule.
Discipline-level learning outcomes:
BA-1 Exhibit knowledge of accounting, finance, management, legal, operations and marketing.
BA-2 Identify MIS, economics, technology, statistical data and decision support tools for making effective business decisions.
BA-3 Recognize the impact of today’s global economy, diversity and cultures on businesses.
BA-4 Comprehend how effective leadership, teamwork and ethics relate to best business practices.
BA-5 Use effective oral and written communication skills, including effective research techniques.
Course-level student learning outcomes | Discipline-level learning outcomes | Assessment methods |
---|---|---|
Contrast the three types of accounting for investments in subsidiaries:
|
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
Propose which type of accounting for subsidiaries should be used in relation to the amount of control the parent has over a subsidiary |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
Evaluate which accounts should be eliminated in consolidations of subsidiaries |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
Synthesize the processes and application of re-measurement and translation when dealing with foreign subsidiaries |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
Propose how basic hedging contracts impact the earning/losses in business and personal finances |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
Contrast between Operating leases and Capital leases. Know how to identify and record in financial statements |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
Synthesize skills and knowledge related to the characteristics of partnership formation, ownership changes, and liquidation using the applications of: Bonus method with new partner admission; Goodwill method with new partner admission; Lump-Sum liquidations; Installment liquidations and Maximum Loss Absorbable |
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
- Attend and participate in class regularly.
- Read all assigned material before class.
- Study in-class notes and online (Canvas) materials.
- Complete assigned projects in a timely manner to enable reflections and revisions on the final product.
- Participate in discussions.
- Demonstrate your mastery of the required skills on quizzes, exams, etc.
- Complete all assignments with promptness and accuracy.
- All written documents as well as online assignments must be completed using correct grammar, spelling, and structure.
The grading breakdown is subject to change at the discretion of the instructor.
Quizzes |
up to 40% |
Test (which includes Midterm and Final) |
up to 60% |
Assignments, Projects and/or Labs |
up to 40% |
Participation |
up to 20% |
Please see your first day handout for individual instructor grading schemes.
College-wide policies and resources
For more specific information on Chipola's college-wide academic policies and resources available to students, visit the link below.