ACCT 510

Advanced Accounting

4 Undergraduate credits
Effective August 16, 2016 – Present

Graduation requirements this course fulfills

The second course in the two-course financial reporting sequence, this course emphasizes accounting theory and practice including special disclosure and reporting problems; international accounting and foreign currency translation; not-for-profit accounting, governmental accounting; business combinations; and consolidated financial statement preparation and analysis.

Special information

Note: Read chapters one and two before the first class session. Be prepared to complete a quiz on this reading material.

Learning outcomes

General

  • Determine the correct translation method and complete translation for foreign affiliate financial statements.
  • Prepare consolidated financial statements using proper work paper procedures.
  • Demonstrate proper accounting techniques for partnership formation, earnings distribution, and liquidation.
  • Demonstrate understanding of government reporting for state and local government entities.
  • Apply proper accounting methodologies for foreign currency transactions and assess; justify and communicate related strategic aspects for hedging of foreign currency transactions.
  • Evaluate nonprofit entities from both a governance and financial perspective and create recommendations.
  • Assess the strategic implications of business combinations and analyze a variety of asset and stock acquisition scenarios.