Advanced Accounting

Part I: ACCOUNTING FOR MERGERS, ACQUISITIONS, AND LIQUIDATIONS. Chapter 1: Introduction to Business Combinations and the Conceptual Framework. Planning M&A in a Changing Environment and under Changing Accounting Requirements. Nature of the Combination. Business Combinations: Why? Why not? Business Combinations: Historical Perspective. Terminology and Types of Combinations. Takeover Premiums. Avoiding the Pitfalls before the Deal. Determining Price and Method of Payment in Business Combinations. Alternative Concepts of Consolidated Financial Statements. FASB's Conceptual Framework. Chapter 2: Accounting for Business Combinations. Historical Perspective on Business Combinations. Pro Forma Statements and Disclosure Requirement. Explanation and Illustration of Acquisition Accounting. Contingent Consideration in an Acquisition. Leveraged Buyouts. IFRS versus U.S. GAAP. Chapter 3: Consolidated Financial Statements--Date of Acquisition. Definitions of Subsidiary and Control. Requirements for the Inclusion of Subsidiaries in the Consolidated Financial Statements. Reasons for Subsidiary Companies. Consolidated Financial Statements. Investments at the Date of Acquisition. Consolidated Balance Sheets: the Use of Workpapers. A Comprehensive Illustration--More than One Subsidiary Company. Limitations of Consolidated Statements. Chapter 4: Consolidated Financial Statements after Acquisition. Accounting for Investments by the Cost, Partial Equity, and Complete Equity Methods. Consolidated Statements after Acquisition--Cost Method. Recording Investments in Subsidiaries--Equity Method (Partial or Complete). Elimination of Intercompany Revenue and Expense Items. Interim Acquisitions of Subsidiary Stock. Consolidated Statement of Cash Flows. Illustration of Preparation of a Consolidated Statement of Cash Flows: Year of Acquisition. Compare U.S. GAAP and IFRS Regarding Equity Method. Chapter 5: Allocation and Depreciation of Differences Between Implied and Book Values. Allocation of the Difference Between Implied and Book Values to Assets and Liabilities of Subsidiary: Acquisition Date. Effect of Allocation and Depreciation of Differences Between Implied and Book Values on Consolidated Net Income: Year Subsequent to Acquisition. Consolidated Statements Workpaper--Investment Recorded Using The Cost Method. Cost Method Analysis of Controlling and Noncontrolling Interests in Consolidated Net Income and Retained Earnings. Consolidated Statements Workpaper--Investment Recorded Using Partial Equity Method. Partial Equity Method Analysis of Controlling and Noncontrolling Interests in consolidated Net Income and Retained Earnings. Consolidated Statements Workpaper--Investment Recorded Using Complete Equity Method. Complete Equity Method Analysis of Controlling Interest in Consolidated Net Income and Retained Earnings. Additional Considerations Relating to Treatment of Difference Between Implied and Book Values. Push Down Accounting. IFRS Vs. U.S. GAAP on Research & Development Costs. Chapter 6: Elimination of Unrealized Profit on Intercompany Sales of Inventory. Effects of Intercompany Sales of Merchandise on the Determination of Consolidated Balances. Cost Method--Analysis of Consolidated Net Income and Consolidated Retained Earnings. Consolidated Statements Workpaper--Partial Equity Method. Partial Equity Method--Analysis of Consolidated Net Income and Consolidated Retained Earnings. Consolidated Statements Workpaper--Complete Equity Method. Complete Equity Method--Analysis of Consolidated Net Income and Consolidated Retained Earnings. Summary of Workpaper Entries Relating to Intercompany Sales of Inventory. Intercompany Profit Prior To Parent--Subsidiary Affiliation Chapter 7: Elimination of Unrealized Gains or Losses on Intercompany Sales of Property and Equipment. Intercompany Sales Of Land (Nondepreciable Property). Intercompany Sales Of Depreciable Property (Machinery, Equipment, and Buildings). Consolidated Statements Workpaper--Cost and partial Equity Methods. Calculation of Consolidated Net Income and Consolidated Retained Earnings. Consolidated Statements Workpaper--Complete Equity Method. Calculation and Allocation of Consolidated Net Income; Consolidated Retained Earnings: Complete Equity Method. Summary of Workpaper Entries Relating to Intercompany Sales of Equipment. Intercompany Interest, Rents, and Service Fees. Chapter 8: Changes in Ownership Interest. Parent Acquires Subsidiary Stock Through Several Open-Market Purchases--Cost Method. Parent Sells Subsidiary Stock Investment on the Open Market. Equity Method--Purchases and Sales of Subsidiary Stock By the Parent. Parent Sells Subsidiary Stock Investmenton the Open Market. Subsidiary Issues Stock. Chapter 9: Intercompany Bond Holdings and Miscellaneous Topics--Consolidated Financial Statements. Intercompany Bond Holdings. Accounting for Bonds--A Review. Constructive Gain or Loss on Intercompany bond Holdings. Accounting for Intercompany Bonds Illustrated. Book Entry Related To Bond Investment. Interim Purchase of Intercompany Bonds. Notes Receivable Discounted. Stock Dividends issued by A Subsidiary Company. Dividends From Preacquisition Earnings. Subsidiary with both Preferred and Common Stock Outstanding. Consolidating a Subsidiary with Preferred stock Outstanding. Chapter 10: Insolvency--Liquidation and Reorganization. Contractual Agreements. Bankruptcy. Liquidation (Chapter 7). Trustee Accounting and Reporting. Realization and Liquidation Account. Part II: ACCOUNTING IN THE INTERNATIONAL MARKETPLACE. Chapter 11: International Financial Reporting Standards. The Increasing Importance of International Accounting Standards. The Road to Convergence--U.S. GAAP and IFRS. Significant Similarities and Differences Between U.S. GAAP and IFRS. GAAP Hierarchy--U.S. Versus IFRS. Long-Term Convergence Issues FASB and IASB. Lease Accounting Convergence. Revenue Recognition Convergence. Financial Statement Presentation. How the Financial Statements Might Change. International Convergence Issues. American Depository Receipts (ADRS): An Overview. Chapter 12: Accounting for Foreign Currency Transactions and Hedging Foreign Exchange Risk. Exchange Rates--Means of Translation. Measured Versus Denominated. Foreign Currency Transactions. Using Forward Contracts as a Hedge. Chapter 13: Translation of Financial Statements of Foreign Affiliates. Accounting for Operations in Foreign Countries. Translating Financial Statements of Foreign Affiliates. Objectives of Translation--SFAS No. 52. Translation Methods. Identifying the Functional Currency. Translation of Foreign Currency Financial Statements. Translation of Foreign Financial Statements Illustrated. Financial Statement Disclosure. Historical Developments of Accounting Standards. Chapter 14: Reporting for Segments and for Interim Financial Periods. Need for Disaggregated Financial Data. Standards of Financial Accounting and Reporting. International Accounting Standards Board (IASB) Position on Segment Reporting. Interim Financial Reporting. Part III: PARTNERSHIP ACCOUNTING. Chapter 15: Partnerships: Formation, Operation, and Ownership Changes. Partnership Defined. Reasons for Forming a Partnership. Characteristics of a Partnership. Partnership Agreement. Accounting for a Partnership. Special Problems in Allocation of Income and Loss. Financial Statement Presentation. Changes in the Ownership of the Partnership. Section A: Admission of a New Partner. Section B: Withdrawal of a Partner. Part IV: FUND AND NONPROFIT ACCOUNTING. Chapter 16: Partnership Liquidation. Steps in the Liquidation Process. Priorities of Partnership and Personal Creditors. Simple Liquidation Illustrated. Installment Liquidation. Incorporation of a Partnership. Chapter 17: Introduction to Fund Accounting. Classifications of Nonbusiness Organizations. Distinctions Between Nonbusiness Organizations and Profit-Oriented Enterprises. Financial Accounting and Reporting Standards for Nonbusiness Organizations. Fund Accounting. Reporting Inventory and Prepayments in the Financial Statements. Chapter 18: Introduction to Accounting for State and Local Governmental Units. The History of Generally Accepted Governmental Accounting Standards. The Structure of Governmental Accounting. Governmental Fund Entities. Proprietary Funds. Fiduciary Funds. Capital Assets and Long-Term Debt. External Reporting Requirements (GASB Statement No. 34). Government Fund-Based Reporting. Government-Wide Reporting. Management's Discussion and Analysis (MD&A). Special Assessments. Interfund Activity. Chapter 19: Accounting for Nongovernment Nonbusiness Organizations: Colleges and Universities, Hospitals and Other Health Care Organizations. Sources of Generally Accepted Accounting Standards for Nongovernment. Nonbusiness Organizations. Fund Accounting. Classification of Revenue and Expense. Accounting for Current Funds. Contributions. Accounting for Plant Funds. Accounting for Endowment Funds. Accounting for Investments. Accounting for Loan Funds. Accounting for Agency (Custodial) Funds. Accounting for Annuity and Life Income Funds. Issues Relating to Colleges and Universities. Issues Relating to Hospitals. Glossary. Appendix. Index.