ACC 253 - Advanced Accounting
This course is an in-depth study of selected accounting topics, including partnerships, consolidations, business combinations, bankruptcy, corporate reorganizations and multinational companies. It presents both the theoretical and applied aspects of these topics. CPA problems will be reviewed.
Upon successful completion of this course, students should be able to:
Discuss the environmental factors and the underlying theoretical structure related to the accounting discipline.
Prepare consolidated financial statements under a variety of circumstances.
Properly record and report the domestic firms transactions that are denominated in foreign currency.
Explain accounting for partnerships from formation to dissolution.
Record events and exhibit results in the specialized area of governmental accounting.
Explain the accounting procedures for nonprofit organizations such as universities, hospitals, and voluntary health and welfare organizations.
Complete accounting procedures unique to estates and trusts.
Lecture Hours: 3
Course Prerequisites: ACC 252