Consolidations and Mergers

The course concentrates on various aspects of business combinations with special emphasis on the technical aspects of financial statement preparation for consolidated entities.  Also included are business segments, and SEC topics.

PREREQUISITE: ACC3114

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

• Identifying legal and financial factors for a business combination.
• Accounting for a purchase acquisition.
• Developing working papers for business combinations.
• Preparing journal entries for the consolidated entity.
• Analyzing ownership patterns and minority interests.
• Accounting for changes in ownership levels between members of a business combination.
• Preparing elimination entries for intercompany transactions.
• Analyzing intercompany transfers.
• Calculating preacquisition income.
• Applying cost and equity methods for corporate investments.
• Accounting for special problems in the preparation of consolidated financial statements.
• Identifying reportable segments and preparing the required disclosures.
• Accounting for affiliated structures in the preparation of consolidated financial reports.
• Analyzing special issues involving intercompany debt.
• Calculating income tax treatments and ownership patterns in business combinations.
• Analyzing SEC regulations.
• Demonstrating knowledge of proper financial presentation and disclosure requirements for all topics covered in the course.