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:

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