ACC4450
Advanced Accounting
The Advanced Accounting course assists students in accounting for advanced situations encountered by accountants. Students will review generally accepted accounting principles for business combinations, consolidated financial statements, and advanced financial statement presentation issues. Students will also perform accounting research on advanced accounting topics including accounting for software, share based compensation, derivatives and hedge accounting and other advanced complex and emerging topics.
UPON COMPLETION OF THE COURSE, THE STUDENT WILL BE COMPETENT IN:
- Explaining accounting research and application.
- Recalling more complex consolidated concepts and terms and preparing a set of consolidated financial statements using appropriate technology.
- Defining concepts of and preparing journal entries to account for business combinations using appropriate technology.
- Identifying and calculating goodwill and other indefinite-lived intangible assets reported in the financial statements and preparing entries. Using appropriate technology (e.g., general ledger software, spreadsheet software/applications) as applicable.
- Discussing emerging reporting frameworks.
- Classifying and interpreting notes to financial statements and using to make informed decisions.
- Defining elements and preparing required financial statement note disclosures.
- Identifying and calculating capitalized software costs using appropriate technology.
- Identifying and calculating research and development costs using appropriate technology.
- Identifying and calculating compensation costs associated with share-based payment arrangements using appropriate technology.
- Identifying and preparing statements for defined contribution employee benefit plans.
- Identifying characteristics of derivatives and hedge accounting and preparing journal entries under hedge accounting for derivative financial instruments using appropriate technology.