ACCT 457 Advanced Accounting

A course of specialized accounting procedures and reporting with emphasis on multi-corporate entities, multinational entities, and partnership. 

Credits

3

Prerequisite

ACCT 302

Offered

Fall

Student Learning Outcomes

1. Understand and explain the reasons for and different methods of business expansion
2. Apply generally accepted accounting principles (GAAP) for the creation of a subsidiary and acquisition of the net assets of an investee
3. Apply GAAP for the investments that lack control over the investee and for investments with indirect control
4. Apply GAAP to and analyze the results of investments that require consolidated financial statements
5. Understand and exp0lain partnership accounting as it relates to formation, retirement, income allocation, and liquidation of a partnership
6. Understand and explain GAAP as it relates to corporations in financial difficulty