MBA 622: Advanced Accounting

Overview

This course systematically approaches advanced accounting concepts within a theoretical and professional context, showing how advanced accounting applies to a variety of service and manufacturing organizations. It develops students’ problem solving skills along with requiring them to be realistic and concise. Key areas of study include consolidation of financial statements, partnership accounting, and government accounting. Using key concepts, students analyze complex problems using fundamental and advanced principles and practices appropriate for advanced accounting. Application of advanced accounting judgment and learning are focused on engaging, real-world examples, illustrations, and analogies.

Learning Outcomes

Upon successful completion of this course, students will be able to:

• Identify, discuss and apply advanced accounting concepts and techniques for the equity method of accounting for investments.
• Demonstrate mastery of consolidation concepts and techniques for financial information at the date of acquisition.
• Demonstrate mastery of consolidated financial statements subsequent to the date of acquisition and outside ownership.
• Apply consolidated financial statement concepts and techniques for measuring and recording inter-company asset transactions, variable interest entities, inter-company debt and consolidation cash flows.
• Identify, discuss and apply foreign currency transactions and hedging foreign exchange risk concepts and techniques.
• Demonstrate mastery of concepts and techniques related to translation of foreign currency financial statements.
• Summarize and evaluate concepts and techniques related to partnership formation, operation, termination and liquidation.
• Summarize and apply concepts and techniques related to accounting for state and local governments.

Required Texts
MBA 622 texts are available from the JIU/MBS bookstore