Advanced Accounting

The focus of ACC 5316 is on business combinations and the consolidation of financial statements. We start by covering various methods of accounting for non-controlling intercorporate investments (i.e., the equity method, fair value method, and cost method) before moving to controlling consolidation.

Key learning objectives include mastering the rules and applications related to business combinations, understanding the consolidation process, and gaining proficiency in handling foreign-currency denominated transactions. Students also learn to translate foreign-currency financial statements, giving them a taste of issues and complexities related to global accounting practices.

The course employs a flipped classroom model, encouraging engagement with lecture materials and readings before class to facilitate in-depth discussions and hands-on problem-solving during class sessions.