Advanced Financial Accounting

This course includes lifetime access so you can complete it at your own speed.

This course is designed for those interested to learn more about financial accounting, especially about intercorporate acquisitions and investments in other entities.

Benefits of taking this course include:

• Unlimited and lifetime access to the course
• Learn the course at your own pace
• Course can be accessed on any platform
• 24/7 Customer support

Certificate of completion

Digital certificate - Included

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

Advanced Financial Accounting will cover the following topics:

Section 1 - Acquisition And Investments Overview

Section 2 - Example Problems - Acquisition And Investments Overview

Section 3 - Excel Problems - Acquisition And Investments Overview

Section 4 - Consolidations Of Wholly Owned Subsidiaries - Basic Consolidations

Section 5 - Excel Problems - Consolidations Of Wholly Owned Subsidiaries - Basic Consolidations

Section 6 - Consolidations Of Less Than Wholly Owned Subsidiaries

Section 7 - Example Problems - Consolidations Of Less Than Wholly Owned Subsidiaries

Section 8 - Excel Problems - Consolidations Of Less Than Wholly Owned Subsidiaries

Section 9 - 100% Owned Subsidiary Purchased A More Than Book Value

Section 10 - Example Problems - 100% Owned Subsidiary Purchased At More Than Book Value

Section 11 - Excel Problems - 100% Owned Subsidiary Purchased At More Than Book Value

Section 12 - Under 100% Owned Subsidiaries Acquired At More Than Book Value

Section 13 - Example Problems - Under 100% Owned Subsidiaries Acquired At More Than Book Value

Section 14 - Excel Problems - Under 100% Owned Subsidiaries Acquired At More Than Book Value

Section 15 - Inventory Transfer Intercompany

Section 16 - Example Problems - Inventory Transfer Intercompany

Section 17 - Excel Problems - Inventory Transfer Intercompany

Section 18 - Consolidation - Transfer Of Noncurrent Assets And Services

Section 19 - Excel Problems - Consolidation - Transfer Of Noncurrent Assets And Services

Section 20 - Consolidation - Intercompany Indebtedness

Section 21 - Example Problems - Consolidation - Intercompany Indebtedness

Section 22 - Excel Problems - Consolidation - Intercompany Indebtedness

Section 23 - Consolidation Ownership Problems

Section 24 - Practice Problems - Consolidation Ownership Problems

Section 25 - Practice Problems - Consolidation Ownership Problems

Section 26 - Consolidation – Other Reporting Issues

Section 27 - Practice Problems - Consolidation – Other Reporting Issues

Section 28 - Excel Problems - Consolidation – Other Reporting Issues

Section 29 - Consolidation – Foreign Currency Transactions

Section 30 - Practice Problems – Foreign Currency Transactions

Section 31 - Excel Problems – Foreign Currency Transactions

Section 32 - Consolidation – Foreign Entity Reporting Issues And Translation

Section 33 - Course Resources

This course is designed for those interested to learn more about financial accounting, especially about intercorporate acquisitions and investments in other entities.

Accounting and bookkeeping knowledge

None

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