The course continues the emphasis on financial accounting concepts and theory; analysis of liabilities and equities; alternative accounting methods for special topics such as leases, pensions, and income taxes; and, more advanced aspects of accounting theory.

PREREQUISITE: ACC3114

UPON COMPLETION OF THE COURSE, THE STUDENT WILL BE COMPETENT IN:

• Accounting for long-term liabilities and alternate valuation methods.
• Analyzing asset impairments and troubled debt restructuring.
• Accounting for transactions in debt securities and alternate valuation approaches.
• Accounting for early extinguishment of debt and off-balance sheet financing.
• Accounting for leases and special valuation problems.
• Accounting for pensions and post-retirement benefits.
• Accounting for dividend transactions and understanding dividend policy.
• Accounting for intraperiod tax allocation and deferred taxes.
• Defining special problems of revenue recognition.
• Analyzing the corporate form of organizations and related equity transactions.
• Accounting for stock rights and stock options.
• Reporting corporate investments and methods of consolidation.
• Analyzing accounting changes and error corrections.
• Applying interim reporting requirements and disclosures.
• Preparing and interpreting a statement of cash flows.
• Identifying dilutive securities and calculating earnings per share.
• Demonstrating knowledge of proper financial presentation and disclosure requirements for all topics covered in the course.