About 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. 

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.

Who this course is for:

  • Accounting Students
  • Accounting Professionals

Our Promise to You

By the end of this course, you will have learned more about financial accounting.

30 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
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