2021 - 2022 College Catalog 
    
    Oct 20, 2021  
2021 - 2022 College Catalog

ACCT 320 - Advanced Accounting


Credit Hours: 3
Lecture Hours: 3
Laboratory Hours: 0

Prerequisite(s): C- or better in ACCT 220 

Restriction(s): None

Corequisite(s): None

This course covers accounting issues relating to business combinations and the preparation and reporting of consolidated financial statements; translating foreign currency transactions and operations; and partnership accounting.

Student Learning Outcomes of the Course:
  1. Apply the appropriate accounting and financial reporting rules for intercorporate acquisitions and investments in business entities
  2. Prepare journal entries for the equity method of accounting for intercorporate acquisitions.
  3. Apply the appropriate accounting and financial reporting rules for the consolidation of a less-than and wholly-owned subsidiaries.
  4. Prepare consolidated financial statements, including journal entries for intercompany transactions.
  5. Account for foreign currency transactions and the translation of foreign currency financial statements.
  6. Apply the accounting and the financial reporting rules for the formation, operation, and liquidation of partnerships.