ACG4201

Advanced Accounting

Course Code:
ACG 4201

Credit Hours:
3

Effective beginning:
2022-23

 

 

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 Connect card), 14th ed., Hoyle/Schaefer/Doupnik, McGraw-Hill, 2021. ISBN: 9781260726442.

 

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 learning outcomes:

Course-level student learning outcomesDiscipline-level learning outcomesAssessment methods
Contrast the three types of accounting for investments in subsidiaries:
  • Cost
  • Simple Equity
  • Sophisticated Equity

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

 

 

Means of accomplishing learning outcomes:

  1. Attend and participate in class regularly.
  2. Read all assigned material before class.
  3. Study in-class notes and online (Canvas) materials.
  4. Complete assigned projects in a timely manner to enable reflections and revisions on the final product.
  5. Participate in discussions.
  6. Demonstrate your mastery of the required skills on quizzes, exams, etc.
  7. Complete all assignments with promptness and accuracy.
  8. 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.