This course is designed for those interested to learn more about financial accounting, especially about intercorporate acquisitions and investments in other entities.
Read more.Course Skill Level
Advanced
Time Estimate
50h 11m
Instructor
Robert (Bob) Steele CPA, CGMA, M.S. Tax, CPI
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About This Course
Who this course is for:
- Accounting Students
- Accounting Professionals
What you’ll learn:Â
- Intercorporate acquisitions and investments in other entities
- Account for intercompany transactions related to debt, bonds, and interest
Requirements:Â
- No prior knowledge is required to take this course
Advanced financial accounting will focus heavily on intercorporate acquisitions and investments in other entities. Why learn advanced accounting?
Even if we do not work in an area that applies advanced accounting concepts directly, learning them is very useful, because it refines our skills on the understanding of double-entry accounting, its concepts, and practical application. Advanced financial accounting is also a standardized topic often found on exams like the CPA exam.
This course will break down the complex concepts in advanced financial accounting in a way we can easily grasp. How?
We will break down the very large concepts covered into digestible parts. We will organize those parts in a way in which they build on one another logically, allowing us to develop our knowledge in a systematic, practical, and efficient way.
We will approach each new section from a variety of angles, including:
- PowerPoint presentations discussing the latest concepts in a discussion format
- Practice problem demonstrations using video recordings taken of presentations created using OneNote
- Excel problems we will demonstrate in a step by step process
- Learners will have access to the PowerPoint presentations in PDF format.Â
Learners will have downloadable Excel files, each having at least two tabs, one with the answer, one with a preformatted Excel worksheet learners can use to work through the problem in a step by step approach.
We also do our best to add a trial balance and show the big picture as we learn new concepts, a step often missed in many classes. In other words, by the time we get to advanced financial accounting, many instructors expect us to be able to visualize everything that has been learned up to this point, and only show the new concepts. In reality, even seasoned professionals will have a difficult time imagining all the complexities that can go on in a consolidation without the help of supporting tools like a trial balance to work with.
We will show the trial balance, show each journal entry in our practice problem, and post each entry to a worksheet so we can see the results as we go. No guessing where a number came from in this course.
While learning consolidation, we will start with easier problems where the subsidiary is 100% owned by the parent company. We will then add differentials between the fair value and book value at the point of purchase.
The course will move to conciliation where the subsidiary is not 100% owned, resulting in us accounting for the noncontrolling interest. We will add intercompany transfers such as upstream (subsidiary to parent) and downstream (parent to subsidiary) sales of equipment and inventory.
Learners will learn how to account for intercompany transactions related to debt, bonds, and interest.
Our Promise to You
By the end of this course, you will have learned more about financial accounting.
10 Day Money Back Guarantee. If you are unsatisfied for any reason, simply contact us and we’ll give you a full refund. No questions asked.
Get started today and learn more about advanced financial accounting.
Course Curriculum
| Section 1 - Acquisition And Investments Overview | |||
| 105 Business Acquisition And Expansion | 00:00:00 | ||
| 110 Internal Business Expansion | 00:00:00 | ||
| 115 External Business Expansion | 00:00:00 | ||
| 120 Business Combinations Methods | 00:00:00 | ||
| 125 Internal Expansion Accounting | 00:00:00 | ||
| 130 Forms Of Business Combinations | 00:00:00 | ||
| 135 Valuation Of Business Entities | 00:00:00 | ||
| 140 Statutory Merger | 00:00:00 | ||
| 145 Acquisition Accounting | 00:00:00 | ||
| 150 Acquisition Accounting Goodwill | 00:00:00 | ||
| 155 Acquisition Accounting Bargain Purchase | 00:00:00 | ||
| 160 Other Intangibles | 00:00:00 | ||
| 163 Financial Reporting After A Business Combination | 00:00:00 | ||
| 166 Measurement Period And Contingent Considerations | 00:00:00 | ||
| 169 Consolidation Process Overview | 00:00:00 | ||
| Section 2 - Example Problems - Acquisition And Investments Overview | |||
| 113 One Company Fully Purchasing Another Using Bonds | 00:00:00 | ||
| 101 Practice Problem One Company Creates Fully Owed Subsidiary | 00:00:00 | ||
| 121 One Company Fully Purchases Net Assets Of Another Using Common Stock | 00:00:00 | ||
| Section 3 - Excel Problems - Acquisition And Investments Overview | |||
| 113 One Company Fully Purchasing Another Using Bonds | 00:00:00 | ||
| 108 Company Purchase Net Asset of Another Company | 00:00:00 | ||
| 121 One Company Fully Purchases Another Using Common Stock | 00:00:00 | ||
| 124 One Company Creates A Fully Owned Subsidiary | 00:00:00 | ||
| 127 One Company Purchases Net Assets Of Another Exchanging Stock Issued | 00:00:00 | ||
| 101 Fully Owned Subsidiary Creation Journal Entry | 00:00:00 | ||
| 140 Acquisition And Merger And Liquidation Detailed Problem | 00:00:00 | ||
| Section 4 - Consolidations Of Wholly Owned Subsidiaries - Basic Consolidations | |||
| 205 Accounting Related To Ownership And Control | 00:00:00 | ||
| 217 Consolidation Process 100% Owned Subsidiary | 00:00:00 | ||
| 209 Securities Carried At Fair Value Accounting | 00:00:00 | ||
| 214 Investments Using The Equity Method | 00:00:00 | ||
| Section 5 - Excel Problems - Consolidations Of Wholly Owned Subsidiaries - Basic Consolidations | |||
| 222 Consolidation Equity Method Year 2 – P Co. Purchased 100% of Shares of S at Net Asset Price | 00:00:00 | ||
| 221 Consolidation Equity Method Year 1 – P Co. Purchased 100% Of Shares Of S At Net Asset Price | 00:00:00 | ||
| 219 Excel Problem Equity Method vs Fair Value Method | 00:00:00 | ||
| 228 Consolidation Cost Method Year 2 – P Co. Purchased 100% Of Shares of S At Net Asset Price | 00:00:00 | ||
| 227 Consolidation Cost Method Year 1 – P Co. Purchased 100% Of Shares Of S At Net Asset Price | 00:00:00 | ||
| Section 6 - Consolidations Of Less Than Wholly Owned Subsidiaries | |||
| 310 Direct And Indirect Control | 00:00:00 | ||
| 305 Usefulness Of Consolidated Financial Statements | 00:00:00 | ||
| 315 Consolidation For Non Wholly Owned Subsidiary | 00:00:00 | ||
| 320 Consolidation Calculations Less Than Wholly Owned Subsidiary | 00:00:00 | ||
| Section 7 - Example Problems - Consolidations Of Less Than Wholly Owned Subsidiaries | |||
| 326 Consolidation Year 0 P Co. Purchased 90% Of Shares Of S At 90% Of Net Asset Price | 00:00:00 | ||
| 327 Consolidation Year 1 P Co. Purchased 90% Of Shares Of S At 90% Of Net Asset Price | 00:00:00 | ||
| Section 8 - Excel Problems - Consolidations Of Less Than Wholly Owned Subsidiaries | |||
| 326 Consolidation Excel Non-Wholly Owned Subsidiary Not Goodwill Year 0 | 00:00:00 | ||
| 327 Consolidation Excel – Non-Wholly Owned Subsidiary Not Goodwill Year 1 | 00:00:00 | ||
| 328 Consolidation Excel Non-Wholly Owned Subsidiary Not Goodwill Year 2 | 00:00:00 | ||
| Section 9 - 100% Owned Subsidiary Purchased A More Than Book Value | |||
| 425 Push Down Accounting | 00:00:00 | ||
| 410 Consolidation With Difference Simple Example | 00:00:00 | ||
| 420 Intercompany Transactions | 00:00:00 | ||
| 405 Consolidation When There Is A Book And Fair Value Difference Overview | 00:00:00 | ||
| Section 10 - Example Problems - 100% Owned Subsidiary Purchased At More Than Book Value | |||
| 425 Consolidation 100% Owned Goodwill And PP&E Value Adjustments | 00:00:00 | ||
| 437 Push Down Accounting | 00:00:00 | ||
| 431 Consolidation 100% Owned Goodwill And Inter-Company Transactions Year 0 | 00:00:00 | ||
| 427 Consolidation 100% Owned, Land Revaluation, Purchases With Stock Issuance Year 1 | 00:00:00 | ||
| 433 Consolidation 100% Owned, Goodwill, Fair Value PP&E, And Impairment Of Goodwill, Year 1 | 00:00:00 | ||
| 436 Consolidation 100% Owned, Fair Value PP&E Difference, And Intercompany Transactions Year 1 | 00:00:00 | ||
| 435 Consolidation 100% Owned, Fair Value PP&E Difference, And Intercompany Transactions Year 5 | 00:00:00 | ||
| 437 Push Down Accounting | 00:00:00 | ||
| Section 11 - Excel Problems - 100% Owned Subsidiary Purchased At More Than Book Value | |||
| 433 Consolidation 100% Owned, Goodwill, Fair Value PP&E, And Impairment Of Goodwill, Year 1 | 00:00:00 | ||
| 436 Consolidation 100% Owned, Fair Value PP&E Difference, And Intercompany Transactions Year 1 | 00:00:00 | ||
| 435 Consolidation 100% Owned, Fair Value PP&E Difference, And Intercompany Transactions Year 5 | 00:00:00 | ||
| Section 12 - Under 100% Owned Subsidiaries Acquired At More Than Book Value | |||
| 510 Consolidations Less Than 100% Owned Subsidiary | 00:00:00 | ||
| Section 13 - Example Problems - Under 100% Owned Subsidiaries Acquired At More Than Book Value | |||
| 539 Consolidation Less Than 100% Owned, Fair Value Differ from Book, Year Zero | 00:00:00 | ||
| 549 Consolidation Less Than 100% Owned, Fair Value Differ from Book, Intercompany Transaction, Year 5 | 00:00:00 | ||
| 543 Consolidation Less Than 100% Owned, Fair Value Differ from Book, Goodwill, Year 1 | 00:00:00 | ||
| 544 Consolidation Less Than 100% Owned, Fair Value Differ from Book, Goodwill, Year 2 | 00:00:00 | ||
| Section 14 - Excel Problems - Under 100% Owned Subsidiaries Acquired At More Than Book Value | |||
| 539 Consolidation Less Than 100% Owned, Fair Value Differ From Book, Intercompany Transaction, Year 0 | 00:00:00 | ||
| 549 Consolidation Less than 100% Owned, Fair Value Differ from Book, Intercompany Transaction, Year | 00:00:00 | ||
| 543 Consolidation Less Than 100% Owned, Fair Value Differ From Book, Goodwill, Year 1 | 00:00:00 | ||
| 544 Consolidation Less Than 100% Owned, Fair Value Differ From Book, Goodwill, Year 2 | 00:00:00 | ||
| Section 15 - Inventory Transfer Intercompany | |||
| 620 Sale From Parent To Sub Sub Has Not Resold | 00:00:00 | ||
| 610 Eliminating Intercompany Transactions | 00:00:00 | ||
| 615 Parent Sale To Sub And Sub Resold | 00:00:00 | ||
| 625 Inventory Transfers And Transfer Pricing | 00:00:00 | ||
| Section 16 - Example Problems - Inventory Transfer Intercompany | |||
| 637 Consolidation Down Stream And Upstream Sales Fully Adjusted Equity Method | 00:00:00 | ||
| 645 Consolidation Down Stream And Upstream Sales-Modified Equity Method | 00:00:00 | ||
| 639 Consolidation Down And Upstream Sales Fully Adjusted Equity Method | 00:00:00 | ||
| Section 17 - Excel Problems - Inventory Transfer Intercompany | |||
| 637 Consolidation Down Stream And Upstream Sales-Fully Adjusted Equity Method | 00:00:00 | ||
| 645 Consolidation Down Stream And Upstream Sales Modified Equity Method | 00:00:00 | ||
| 639 Consolidation Down And Upstream Sales Fully Adjusted Equity Method | 00:00:00 | ||
| Section 18 - Consolidation - Transfer Of Noncurrent Assets And Services | |||
| 720 Depreciable Asset Transfer | 00:00:00 | ||
| 710 Transfer Of Long-Term Assets And Services Overview | 00:00:00 | ||
| 715 Equity Method And Land Transfer | 00:00:00 | ||
| Section 19 - Excel Problems - Consolidation - Transfer Of Noncurrent Assets And Services | |||
| 743 Consolidations NCI, Intercompany Transfer Of Equipment And Land | 00:00:00 | ||
| 742 Consolidations NCI Intercompany Transfer Of Equipment, And Goodwill Impairment | 00:00:00 | ||
| Section 20 - Consolidation - Intercompany Indebtedness | |||
| 810 Intercompany Debt Transfers Overview | 00:00:00 | ||
| Section 21 - Example Problems - Consolidation - Intercompany Indebtedness | |||
| 825 Consolidation NCI, Bond Sale From S To P At A Premium | 00:00:00 | ||
| 824 Consolidation NCI, Bond Sale From P To S At Premium | 00:00:00 | ||
| 838 P1 Consolidation NCI, P Purchases S Bonds From Third Party In Year Of Consolidation | 00:00:00 | ||
| 826 Consolidation NCI, Bond Sale From S To P At Discount | 00:00:00 | ||
| 835 P2 Consolidation NCI, P Purchases S Bonds From Third Party At Discount Part 2 | 00:00:00 | ||
| 838 P2 Consolidation NCI, P Purchases S Bonds From Third Party In Year Of Consolidation Part 2 | 00:00:00 | ||
| 835 P1 Consolidation NCI, P Purchases S Bonds From Third Party at Discount Part 1 | 00:00:00 | ||
| Section 22 - Excel Problems - Consolidation - Intercompany Indebtedness | |||
| 824 Consolidation NCI, Bond Sale From P To S At Premium | 00:00:00 | ||
| 825 Consolidation NCI, Bond Sale From S To P at A Premium | 00:00:00 | ||
| 826 Consolidation NCI, Bond Sale From S To P At Discount | 00:00:00 | ||
| 835 P1 Consolidation NCI, P Purchases S Bonds From Third Party At Discount | 00:00:00 | ||
| 835 P2 Consolidation NCI, P Purchases S Bonds From Third Party At Discount | 00:00:00 | ||
| Section 23 - Consolidation Ownership Problems | |||
| 935 Subsidiary Purchases Shares From Parent | 00:00:00 | ||
| 925 Subsidiary Sells Additional Shares To Parent | 00:00:00 | ||
| 945 Consolidation And Subsidiary Stock Dividends | 00:00:00 | ||
| 915 Consolidation Parent Sale Of Subsidiary Shares | 00:00:00 | ||
| 940 Consolidation When There Is Complex Ownership Structure | 00:00:00 | ||
| 920 Subsidiary Sells Additional Shares To Non-affiliate | 00:00:00 | ||
| 910 Consolidation And Preferred Stock | 00:00:00 | ||
| Section 24 - Practice Problems - Consolidation Ownership Problems | |||
| 934 Consolidation, NCI & P Sells Portion Of S Stock | 00:00:00 | ||
| 936 Consolidation, NCI & S Issues More Stock To P | 00:00:00 | ||
| 932 Consolidation, NCI And Preferred Stock | 00:00:00 | ||
| Section 25 - Practice Problems - Consolidation Ownership Problems | |||
| 934 Consolidation, NCI & P Sells Portion Of S Stock | 00:00:00 | ||
| 936 Consolidation, NCI & S Issues More Stock To P | 00:00:00 | ||
| 932 Consolidation, NCI And Preferred Stock | 00:00:00 | ||
| Section 26 - Consolidation – Other Reporting Issues | |||
| 1010 Consolidated Statement Of Cash Flows | 00:00:00 | ||
| 1020 Consolidation – Interim Acquisition | 00:00:00 | ||
| 1030 Consolidation And Income Taxes | 00:00:00 | ||
| 1035 Consolidated Earnings Per Share | 00:00:00 | ||
| Section 27 - Practice Problems - Consolidation – Other Reporting Issues | |||
| 1028 Consolidated Statement Of Cash Flows | 00:00:00 | ||
| 1029 Consolidated Statement Of Cash Flows Direct Method And Reconciliation | 00:00:00 | ||
| 1033 Consolidated Statement Of Cash Flows Direct Method Gain On Sale | 00:00:00 | ||
| 1038 Midyear Purchase Of Controlling Interest | 00:00:00 | ||
| 1039 Tax Allocation In Consolidated Balance Sheet | 00:00:00 | ||
| 1042 Earnings Per Share With Convertible Securities | 00:00:00 | ||
| Section 28 - Excel Problems - Consolidation – Other Reporting Issues | |||
| 1028 Consolidated Statement Of Cash Flows Indirect Method | 00:00:00 | ||
| 1029 Consolidated Statement Of Cash Flows Direct Method And Reconciliation | 00:00:00 | ||
| 1033 Consolidated Statement Of Cash Flows Direct Method Gain On Sale | 00:00:00 | ||
| 1038 Midyear Purchase Of Controlling Interest | 00:00:00 | ||
| 1039 Tax Allocation In Consolidated Balance Sheet | 00:00:00 | ||
| 1042 Earnings Per Share With Convertible Securities | 00:00:00 | ||
| Section 29 - Consolidation – Foreign Currency Transactions | |||
| 1110 Foreign Currency Exchange Rates | 00:00:00 | ||
| 1120 Foreign Currency Transactions | 00:00:00 | ||
| 1125 Forward Exchange Financial Instruments | 00:00:00 | ||
| 1130 Forward Exchange Contracts | 00:00:00 | ||
| Section 30 - Practice Problems – Foreign Currency Transactions | |||
| 1133 Purchases And Sales Involving Foreign Currency | 00:00:00 | ||
| 1138 P2 Forward Contract To Hedge Commitment Agreement To Purchase | 00:00:00 | ||
| 1138 P3 Forward Contract As A Cash Flow Hedge | 00:00:00 | ||
| 1138 P4 Forward Contract For Speculative Purposes Only | 00:00:00 | ||
| 1140 C1 Forward Exchange Contract To Manage Foreign Currency Net Asset Position | 00:00:00 | ||
| 1140 C2 Forward Exchange Contract To Hedge Foreign Currency Payable Commitment | 00:00:00 | ||
| 1140 C3 A1 Forward Exchange Contract Designated As Cash Flow Hedge And Re-Designated As Fair Value Hedge | 00:00:00 | ||
| 1140 C3 A2 Forward Exchange Contract Designated As Cash Flow Hedge From Time The Contract Is Made | 00:00:00 | ||
| 1140 C4 Forward Exchange Contract For Speculation Only | 00:00:00 | ||
| Section 31 - Excel Problems – Foreign Currency Transactions | |||
| 1133 Purchases And Sales Involving Foreign Currency | 00:00:00 | ||
| 1138 P1 Forward Contract To Manage Foreign Currency Risk From Purchase | 00:00:00 | ||
| 1138 P2 Forward Contract To Hedge Commitment Agreement To Purchase | 00:00:00 | ||
| 1138 P3 Forward Contract As A Cash Flow Hedge | 00:00:00 | ||
| 1138 P4 Forward Contract For Speculative Purposes Only | 00:00:00 | ||
| 1140 C A1 Forward Exchange Contract Designated As Cash Flow Hedge And Re-Designated As Fair Value Hedge | 00:00:00 | ||
| 1140 C1 Forward Exchange Contract To Manage Foreign Currency Net Asset Position | 00:00:00 | ||
| 1140 C2 Forward Exchange Contract To Hedge Foreign Currency Payable Commitment | 00:00:00 | ||
| 1140 C3 A2 Forward Exchange Contract Designated As Cash Flow Hedge From Time The Contract Is Made | 00:00:00 | ||
| 1140 C4 Forward Exchange Contract For Speculation Only | 00:00:00 | ||
| Section 32 - Consolidation – Foreign Entity Reporting Issues And Translation | |||
| 1210 Attempts To Converge To One Set Of Global Accounting Standards | 00:00:00 | ||
| 1220 Functional Currency | 00:00:00 | ||
| 1225 Translation vs Remeasurement | 00:00:00 | ||
| 1230 Translate Financial Statements Of Foreign Subsidiary | 00:00:00 | ||
| 1240 Remeasure Financial Statement Of Foreign Subsidiary | 00:00:00 | ||
| 1245 Other Foreign Operations Issues | 00:00:00 | ||
| Section 33 - Course Resources | |||
| Excel Resources | 00:00:00 | ||
| PDF Resources | 00:00:00 | ||
Course Review
5.0
1 RatingsRelated Courses
Are you interested in higher education?
ok its been a long run
but this course and all the others in this teachers series is worth going through if you are interested in accounting at any case.