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Upper Level
Credits: 6
Term(s) Offered (Subject to Change) : Nov.
Apply financial accounting theory to problems and cases involving the recording of transactions, changes in ownership and liquidations, adjusting and closing procedures, the reporting processes for partnerships, consolidated financial statements, multinational enterprises, and governmental units.
Prerequisites: Accounting 1, Accounting 2, Intermediate Accounting 1, Intermediate Accounting 2, at least one course in Legal Environment of Business, or equivalents. Prior coursework in income tax, cost accounting, and finance would also be helpful. If a significant time interval has occurred since the student completed intermediate accounting and other prerequisite courses, the student should undertake an intensive review of this foundation knowledge before attempting this study. Such students are advised to consult with the course tutor before enrolling.
The 6 credit version covers additional topics including branch/home office operations, bankruptcies and reorganizations, estates and trusts, ethical practices, segment accounting/SEC reporting and reporting for other non-profit organizations.
NOTE: Students planning to sit for the C.P.A. exam in the State of New York should discuss with their advisor or the Area Coordinator for Accounting the C.P.A. licensure requirements.
