Reference no: EM132310419

Question:

Research and write a paper from a topic(advanced accounting) we have discussed this term. The paper should follow APA formatting and be ten pages.

After successfully completing this course, you will be able to:

1. Compare and contrast the methods that can be used in accounting for its investment.

2. Determine the difference in upstream and downstream intercompany transfers.

3. Prepare a translation worksheet for a parent and its foreign subsidiary.

4. Summarize the differences between International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles (GAAP).

5. Calculate and describe the journal entries to record the initial capital investment and liquidation of partnerships.

6. Evaluate the differences between government-wide financial statements and fund-based financial statements.

This course will assist students in preparing for comprehensive exams and will help prepare them for professional practice in public and practice accounting, management, and financial analysis. An understanding of intermediate accounting is crucial to your success in this course

Objective:

After successfully completing this course, you will be able to:
CO1. Generate consolidated financial statements to include consolidations subsequent to the date of acquisition, outside ownership, intra-entity asset transactions, variable interest entities, intra-entity debt, consolidated cash flow, ownership patterns, investments, and income taxes using the equity method of accounting.
CO2. Appraise the problems created by differences in accounting standards across countries and the reasons to develop a set of internationally accepted accounting standards including foreign currency transactions, the hedging of foreign exchange risk, and the translation of foreign currency financial statements.
CO3. Assess factors influencing the international development of accounting systems.
CO4. Examine the role of the Securities Exchange Commission (SEC) in financial reporting and their role in corporations and partnerships to include formation, operation, termination and liquidation.
CO5. Evaluate accounting procedures for interim financial reporting, legal reorganizations, liquidations, estates, and trusts.

Week 1: Accounting for Investments & Consolidation of Financial Information
Learning Objectives
CO1. Generate consolidated financial statements to include consolidations subsequent to the date of acquisition, outside ownership, intra-entity asset transactions, variable interest entities, intra-entity debt, consolidated cash flow, ownership patterns, investments, and income taxes using the equity method of accounting.

Week 2: Consolidations and Financial Statements
Learning Objectives
CO1. Generate consolidated financial statements to include consolidations subsequent to the date of acquisition, outside ownership, intra-entity asset transactions, variable interest entities, intra-entity debt, consolidated cash flow, ownership patterns, investments, and income taxes using the equity method of accounting.

Week 3: Intra-Entity Reporting Issues
Learning Objectives
CO1. Generate consolidated financial statements to include consolidations subsequent to the date of acquisition, outside ownership, intra-entity asset transactions, variable interest entities, intra-entity debt, consolidated cash flow, ownership patterns, investments, and income taxes using the equity method of accounting.
CO5. Evaluate accounting procedures for interim financial reporting, legal reorganizations, liquidations, estates, and trusts.

Week 4: Ownership Patterns, Income Taxes, & Segment and Interim Reporting
Learning Objectives
CO1. Generate consolidated financial statements to include consolidations subsequent to the date of acquisition, outside ownership, intra-entity asset transactions, variable interest entities, intra-entity debt, consolidated cash flow, ownership patterns, investments, and income taxes using the equity method of accounting.
CO5. Evaluate accounting procedures for interim financial reporting, legal reorganizations, liquidations, estates, and trusts.

Week 5: Foreign Currency
Learning Objectives
CO2. Appraise the problems created by differences in accounting standards across countries and the reasons to develop a set of internationally accepted accounting standards including foreign currency transactions, the hedging of foreign exchange risk, and the translation of foreign currency financial statements.

Week 6: Accounting Around the World; Financial Statements and the SEC
Learning Objectives
CO3. Assess factors influencing the international development of accounting systems.
CO4. Examine the role of the Securities Exchange Commission (SEC) in financial reporting and their role in corporations and partnerships to include formation, operation, termination and liquidation.

Week 7: Legal Reorganizations, Liquidations, Forming and Maintaining Partnerships
Learning Objectives
CO4. Examine the role of the Securities Exchange Commission (SEC) in financial reporting and their role in corporations and partnerships to include formation, operation, termination and liquidation.
CO5. Evaluate accounting procedures for interim financial reporting, legal reorganizations, liquidations, estates, and trusts.

Week 8: Termination and Liquidation of Partnerships & Accounting for Trusts and Estates
Learning Objectives
CO4. Examine the role of the Securities Exchange Commission (SEC) in financial reporting and their role in corporations and partnerships to include formation, operation, termination and liquidation.
CO5. Evaluate accounting procedures for interim financial reporting, legal reorganizations, liquidations, estates, and trusts.

Attachment:- Assessment insturction.rar