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Schedule

The schedule below outlines the topics we will be covering in this course, along with the associated time frames and assignments. All work to be submitted is due by 11:59 p.m. (ET) on Sunday night of the week it is due. This assures that all students have the same deadlines regardless of where they live.

Lesson 1 | Lesson 2 | Lesson 3 | Lesson 4 | Lesson 5 | Exam 1 Review | Exam1 | Lesson 6 | Lesson 7 | Lesson 8 | Exam 2 Review | Exam 2 | Lesson 9 | Lesson 10 | Lesson 11 | Final Exam Review | Final Exam

Zoom Sessions

There will be weekly Zoom sessions available for students who wish to go over examples together or ask questions. These are scheduled for Thursdays at 7pm (see Zoom link on left hand side of course page). They are not required but are encouraged. The purpose of these sessions is not for your instructor to start explaining things from "ground zero"; they are to go over questions that you might have after reading the materials and attempting some of the problems. You are also encouraged to send your instructor questions and problems that you'd like to go over; if no questions are sent ahead of time there won't be anything for us to do.

Lesson 1: Intercorporate Acquisitions and Investments in Other Entities
Required Readings and Materials:

Textbook

  • Chapter 1

Lesson 1 Canvas Content and Videos

Key Concepts

  • Internal Expansion | Video and examples
  • External Expansion | Video and examples
Optional Readings and Materials:
  • Chapter 1 Class Slides (in Canvas)
  • Advanced Study Guide: Chapter 1 (in Canvas)
  • Lesson 1 CPA Practice Questions | Video and examples
  • The Next Level
    • Mergers
    • Incidental Business Combination Costs
    • Created Subsidiaries
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Lesson 1 (Chapter 1) SmartBook
  • Lesson 1 (Chapter 1) Homework
  • Lesson 1 Practice Questions (Not Graded)
  • Quiz 1.1 Mergers
  • Quiz 1.2: Goodwill from Business Combination
Lesson 2: Reporting Intercorporate Investments and Consolidation of Wholly Owned Subsidiaries with No Differential
Readings and Materials:

Textbook

  • Chapter 2

Lesson 2 content and videos

Key Concepts

  • Accounting for Stock Investment | Video
  • Consolidation at Acquisition Date | Video
  • Consolidation Initial Year Second Year | Video
  • Consolidation Second Year | Video
Optional Readings and Materials:
  • Chapter 2 Class Slides (in Canvas)
  • Advanced Study Guide: Chapter 2 (in Canvas)
  • Lesson 2 CPA Practice Questions | Video and examples
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Lesson 2 (Chapter 2) SmartBook
  • Lesson 2 (Chapter 2) Homework
  • Lesson 2 Practice Test (Not Graded)
  • Quiz 2.1: Accounting for investment:  Equity Method vs. Fair Value Method
  • Quiz 2.2: Consolidation of Wholly Owned Subsidiary Multiple Years
Lesson 3: The Reporting Entity and the Consolidation of Less-Than-Wholly-Owned Subsidiaries With No Differential
Readings and Materials:

Textbook

  • Chapter 3

Lesson 3 content and videos

Key Concepts

  • Consolidation of Subsidiaries Not Wholly Owned at Acquisition | Video
  • Consolidation Initial Year (Year1) | Video
  • Consolidation Second Year | Video
Optional Readings and Materials:
  • Chapter 3 Class Slides (in Canvas)
  • Advanced Study Guide: Chapter 3 (in Canvas)
  • Lesson 3 CPA Practice Questions | Video and examples
  • The Next Level
    • Consolidation of Less-then-wholly-owned Subsidiaries Without Differential
    • Problem 3-27 Solution Walkthrough | Video
    • Problem 3-30 Example | Video
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Lesson 3 (Chapter 3) SmartBook
  • Lesson 3 (Chapter 3) Homework
  • Lesson 3 Practice Set (Not Graded)
  • Quiz 3.1: Basic Questions
  • Quiz 3.2: Consolidation of Partially Owned Subsidiary; 2 Years
Lesson 4: Consolidation of Wholly Owned Subsidiaries Acquired at More Than Book Value
Readings and Materials:

Textbook

  • Chapter 4

Lesson 4 content and videos

Key Concepts

  • Equity Method and Consolidation Entries | Video
  • Consolidation at the Acquisition Date | Video
  • Consolidation Initial Year | Video
  • Consolidation Year 1 Practice | Video
Optional Readings and Materials:
  • Chapter 4 Class Slides (in Canvas)
  • Advanced Study Guide: Chapter 4 (in Canvas)
  • Lesson 4 CPA Practice Questions | Video and examples
  • The Next Level
    • Return of the Equity Method
    • Expanded Return of the Equity Method
    • Equity Method with Differential | Video
    • New Elimination Entries
    • Problem 4-30; Consolidation Entries and Bargain Purchase | Videos
    • Disposal of Differential Asset
    • Complex Differentials
    • Push-down Accounting
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Lesson 4 (Chapter 4) SmartBook
  • Lesson 4 (Chapter 4) Homework 
  • Lesson 4 Practice Set (Not Graded)
  • Quiz 4.1: Equity Method Entries with Differential
  • Quiz 4.2: Consolidation of Wholly Owned with Differential
Lesson 5: Consolidation of Less-Than-Wholly-Owned Subsidiaries Acquired at More Than Book Value
Readings and Materials:

Textbook

  • Chapter 5

Lesson 5 content and videos

Key Concepts

  • Consolidation Initial Year | Video
  • Consolidation of Less-than-Wholly-Owned Subsidiaries Acquired at More Than Book | Video
  • Consolidation Second Year | Video
  • Consolidation First Year Practice | Video
Optional Readings and Materials:
  • Chapter 5 Class Slides (in Canvas)
  • Advanced Study Guide: Chapter 5 (in Canvas)
  • Lesson 5 CPA Practice Questions | Video and examples
  • The Next Level
    • Equity Method Entries Revisited
    • Expansion of Elimination Entries
    • Example from Text: Problem 5-33  | Videos
    • Lesson 5 Connect Q9-10 Worksheet
    • PQ 5.2 Consolidation of Partially Owned with Differential (Posted)
    • Lesson 5 Connect Q9-10 Worksheet
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Lesson 5 (Chapter 5) SmartBook
  • Lesson 5 (Chapter 5) Homework
  • Lesson 5 Practice Set (Not Graded)
  • Quiz 5.1: Partially Owned Subsidiary Basics
  • Quiz 5.2: Consolidation of Partially Owned with Differential
Exam 1 Review
Readings and Materials:
  • None
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Review Study Guide and Video Lesson
Exam 1
Readings and Materials:
  • None
Assignments:
  • Complete Exam 1: Chapters 1-5
Lesson 6: Intercompany Inventory Transactions
Readings and Materials:

Textbook

  • Chapter 6

Lesson 6 content and videos

Key Concepts

  • Intercompany Inventory Transaction Introduction | Video
  • Downstream / Upstream Inventory Transaction Basic Questions | Video
  • Inventory Downstream Transaction Initial Year Consolidation | Video
  • Inventory Downstream Second Year Consolidation Practice | Video
  • Inventory Upstream Initial Year Consolidation | Video
  • Inventory Upstream Second Year Consolidation | Video
Optional Readings and Materials:
  • Chapter 6 Class Slides (in Canvas)
  • Advanced Study Guide: Chapter 6 (in Canvas)
  • Lesson 6 CPA Practice Questions | Video and examples
  • The Next Level
    • Intercompany Sales of Inventory
    • Revisiting the "Basic Consolidation Entry"
    • Example with Basic Consolidation Entry
    • Another Example Over a Couple of Periods - Downstream
    • Another Example Over a Couple of Periods - Upstream
    • Full Versus Modified Equity Method
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Lesson 6 (Chapter 6) SmartBook
  • Lesson 6 (Chapter 6) Homework 
  • Quiz 6.1: Intercompany Inventory Sale
Lesson 7: Intercompany Transfers of Services and Noncurrent Assets
Readings and Materials:

Textbook

  • Chapter 7

Lesson 7 content and videos

Key Concepts

  • Intercompany Fixed Asset Transfer Introduction / Land Transfer | Video
  • Intercompany Depreciable Asset Transfer Introduction | Video
  • Intercompany Depreciable Asset Transfer Basic Practice | Video
  • Depreciable Asset Transfer - Downstream Practice (E 7-9) | Video
  • Intercompany Depreciable Asset Transfer - Upstream | Video
  • Intercompany Upstream Depreciable Asset Transfer Practice (E7-15) | Video
Optionals Readings and Materials:
  • Chapter 7 Class Slides (in Canvas)
  • Advanced Study Guide: Chapter 7 (in Canvas)
  • Lesson 7 CPA Practice Questions | Video and examples
  • The Next Level
    • Intercompany Sales of Fixed Assets
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Lesson 7 (Chapter 7) SmartBook
  • Lesson 7 (Chapter 7) Homework 
  • Quiz 7.1: Intercompany Sale of Land
  • Quiz 7.2: Intercompany Sale of Depreciable Asset
Lesson 8: Intercompany Indebtedness
Readings and Materials:

Textbook

  • Chapter 8

Lesson 8 content and videos

Key Concepts

  • Intercompany Indebtedness Overview, Direct Transfer | Video
  • Intercompany Indirect Debt Transfer Basic Questions | Video
  • Intercompany Debt Indirect Transfer Upstream - Year 1 | Video
  • Intercompany Debt Indirect Transfer Upstream - Year 2 | Video
  • Intercompany Indirect Bond Transfer Practice (E8-8) | Video
Optional Readings and Materials:
  • Chapter 8 Class Slides (in Canvas)
  • Advanced Study Guide: Chapter 8 (in Canvas)
  • Lesson 8 CPA Practice Questions | Video and examples
  • The Next Level
    • Refresher - Issuing Bonds at Premium | Video
    • Refresher - Early Debt Retirement | Video
    • Intercompany Debt Transactions
    • Constructive Retirement - Classroom Presentation | Video
    • Constructive Retirement with Effective Interest Amortization
    • Constructive Retirement Walk-through | Video
    • Direct Issuance with Straight-line Amortization | Video
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Lesson 8 (Chapter 8) SmartBook
  • Lesson 8 (Chapter 8) Homework 
  • Quiz 8.1: Review of Bond Materials
  • Quiz 8.2: Direct Issuance
  • Quiz 8.3 Constructive Retirement Entries & Worksheet
Exam 2 Review
Readings and Materials:
  • None
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Review Study Guide and Video Lesson
Exam 2
Readings and Materials:
  • None
Assignments:
  • Complete Exam 2: Chapters 6-8
Lesson 9: Multinational Accounting - Foreign Currency Transactions
Readings and Materials:

Textbook

  • Chapter 11

Lesson 9 content and videos

Key Concepts

  • Multinational Accounting Foreign Currency Transaction, Import Transaction
  • Sale in Foreign Currency / Hedge Overview
  • Forward Exchange Contract (Purchase / Sale)
Optional Readings and Materials:
  • Chapter 11 Class Slides (in Canvas)
  • Advanced Study Guide: Chapter 11 (in Canvas)
  • Lesson 9 CPA Practice Questions | Video and examples
  • The Next Level
    • Foreign Currencies and Exchange Rates
    • Foreign Currency Denominated Payables and Receivables
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Lesson 9 (Chapter 11) SmartBook
  • Lesson 9 (Chapter 11) Homework
  • Lesson 9 (Chapter 11) Practice (Not Graded)
Lesson 10: Multinational Accounting - Financial Reporting
Readings and Materials:

Textbook

  • Chapter 12

Lesson 10 content and videos

Key Concepts

  • Multinational Accounting: Translation
  • Remeasurement
  • Translation / Remeasurement / Cost of Goods Sold
Optional Readings and Materials:
  • Chapter 12 Class Slides (in Canvas)
  • Advanced Study Guide: Chapter 12 (in Canvas)
  • Lesson 10 CPA Practice Questions | Video and examples
  • The Next Level
    • The Functional Currency
    • Translation: Which Exchange Rate to Use?
    • Remeasurement Versus Translation
    • Translation Example
    • Assignment 12a Last 3 Questions
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Lesson 10 (Chapter 12) SmartBook
  • Lesson 10 (Chapter 12) Homework 
  • Lesson 10 (Chapter 12) Practice (Not Graded)
  • Quiz 10.1: Translate PPE
  • Quiz 10.2: Determine Translation Gain or Loss
  • Quiz 10.3: Compute R/E and AOCI
  • Quiz 10.4: Remeasurement Exchange Rates
  • Quiz 10.5: Compute Remeasurement Gain/Loss and Income
Lesson 11: Partnership Formation, Operation, and Changes
Readings and Materials:

Textbook

  • Chapter 15

Lesson 11 content and videos

Key Concepts

  • Partnership Formation
  • Income Allocation
  • New Partner Admission
  • Partner Retirement or Withdrawal
Optional Readings and Materials:
  • Chapter 15 Class Slides (in Canvas)
  • Advanced Study Guide: Chapter 15 (in Canvas)
  • Lesson 11 CPA Practice Questions | Video and examples
  • The Next Level
    • Partnership Income Allocation
    • Partnership Income Allocation | Video
    • Partnership Changes
    • Partnership Changes | Video
    • New Partner Enters at Premium - Class Presentation | Video
    • New Partner Enters at Discount - Class Presentation | Video
    • Partner Retirement
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Lesson 11 (Chapter 15) SmartBook
  • Lesson 11 (Chapter 15) Homework 
  • Lesson 11 (Chapter 15) Practice (Not Graded)
  • Quiz 11.1: Weighted Average Capital
  • Quiz 11.2: New Partner Enters at Premium
  • Quiz 11.3: Partner Retires
Final Exam Review
Readings and Materials:
  • None
Assignments:
  • Weekly Q&A Zoom Session: Thursday at 7pm ET (optional)
  • Review Study Guide and Video Lesson
Final Exam Week
Optional Readings and Materials:
  • None
Assignments:
  • Final Exam
    • Chapters 11, 12, 15 + fundamental comprehensive topics from Chapters 1-8

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