Advanced Accounting

Cover
Brief Contents
Contents
Preface
Chapter 1: Business Combinations
	Reasons For Business Combinations
	Antitrust Considerations
	Legal Form of Business Combinations
	Accounting Concept of Business Combinations
	Accounting for Combinations as Acquisitions
	Disclosure Requirements
	The Sarbanes–Oxley Act
	Appendix: Pooling of Interests Accounting
Chapter 2: Stock Investments—Investor Accounting and Reporting
	Accounting for Stock Investments
	Equity Method—A One-Line Consolidation
	Investment in a Step-by-Step Acquisition
	Sale of an Equity Interest
	Stock Purchases Directly from the Investee
	Investee Corporation With Preferred Stock
	Discontinued Operations and other Considerations
	Disclosures for Equity Investees
	Testing Goodwill for Impairment
Chapter 3: An Introduction to Consolidated Financial Statements
	Business Combinations Consummated Through Stock Acquisitions
	Consolidated Balance Sheet at Date of Acquisition
	Consolidated Balance Sheets After Acquisition
	Assigning Excess to Identifiable Net Assets and Goodwill
	Consolidated Income Statement
	Push-Down Accounting
	Preparing a Consolidated Balance Sheet Worksheet
Chapter 4: Consolidation Techniques and Procedures
	Consolidation Under the Equity Method
	Locating Errors
	Excess Assigned to Identifiable Net Assets
	Consolidated Statement of Cash Flows
	Preparing a Consolidation Worksheet
	Appendix A: Trial Balance Workpaper Format
		Consolidation Example—Trial Balance Format and Equity Method
	Appendix B: Preparing Consolidated Statements when Parent Uses Either the Incomplete Equity Method or the Cost Method
	Consolidation Under an Incomplete Equity Method
	Consolidation Under the Cost Method
Chapter 5: Intercompany Profit Transactions—Inventories
	Intercompany Inventory Transactions
	Downstream and Upstream Sales
	Unrealized Profits From Downstream Sales
	Unrealized Profits From Upstream Sales
	Consolidation Example—Intercompany Profits From Downstream Sales
	Consolidation Example—Intercompany Profits From Upstream Sales
	Appendix: SEC Influence on Accounting
		The 1933 Securities Act
		The Securities Exchange Act of 1934
		The Sarbanes–Oxley Act
		The Registration Statement for Security Issues
		The Integrated Disclosure System
		Sec Developments
Chapter 6: Intercompany Profit Transactions—Plant Assets
	Intercompany Profits on Nondepreciable Plant Assets
	Intercompany Profits on Depreciable Plant Assets
	Plant Assets Sold at other than Fair Value
	Consolidation Example—Upstream and Downstream Sales of Plant Assets
	Inventory Purchased for Use as an Operating Asset
Chapter 7: Intercompany Profit Transactions—Bonds
	Intercompany Bond Transactions
	Constructive Gains and Losses on Intercompany Bonds
	Parent Bonds Purchased by Subsidiary
	Parent Purchases Subsidiary Bonds
Chapter 8: Consolidations—Changes in Ownership Interests
	Acquisitions During an Accounting Period
	Piecemeal Acquisitions
	Sale of Ownership Interests
	Changes in Ownership Interests from Subsidiary Stock Transactions
	Stock Dividends and Stock Splits by a Subsidiary
Chapter 9: Indirect and Mutual Holdings
	Affiliation Structures
	Indirect Holdings—Father-Son-Grandson Structure
	Indirect Holdings—Connecting Affiliates Structure
	Mutual Holdings—Parent Stock Held by Subsidiary
	Subsidiary Stock Mutually Held
Chapter 10: Subsidiary Preferred Stock, Consolidated Earnings per Share, and Consolidated Income Taxation
	Subsidiaries with Preferred Stock Outstanding
	Parent and Consolidated Earnings Per Share
	Subsidiary With Convertible Preferred Stock
	Subsidiary With Options and Convertible Bonds
	Income Taxes of Consolidated Entities
	Income Tax Allocation
	Separate-Company Tax Returns with Intercompany Gain
	Effect of Consolidated and Separate-Company Tax Returns on Consolidation Procedures
	Business Combinations
	Financial Statement Disclosures for Income Taxes
Chapter 11: Consolidation Theories, Push-Down Accounting, and Corporate Joint Ventures
	Comparison of Consolidation Theories
	Illustration—Consolidation Under Parent-Company and Entity Theories
	Push-Down Accounting and other Basis Considerations
	Joint Ventures
	Accounting for Variable Interest Entities
Chapter 12: Derivatives and Foreign Currency: Concepts and Common Transactions
	Derivatives
	Foreign Exchange Concepts and Definitions
	Foreign Currency Transactions other than Forward Contracts
Chapter 13: Accounting for Derivatives and Hedging Activities
	Accounting for Derivative Instruments and Hedging Activities
	Accounting for Hedge Contracts: Illustrations of Cash Flow and Fair-Value Hedge Accounting Using Interest Rate Swaps
	Foreign Currency Derivatives and Hedging Activities
Chapter 14: Foreign Currency Financial Statements
	Objectives of Translation and the Functional Currency Concept
	Application of the Functional Currency Concept
	Illustration: Translation
	Illustration: Remeasurement
	Hedging a Net Investment in a Foreign Entity
Chapter 15: Segment and Interim Financial Reporting
	Segment Reporting
	Interim Financial Reporting
	Guidelines for Preparing Interim Statements
Chapter 16: Partnerships—Formation, Operations, and Changes in Ownership Interests
	Nature of Partnerships
	Initial Investments in a Partnership
	Additional Investments and Withdrawals
	Partnership Operations
	Profit- and Loss-Sharing Agreements
	Changes in Partnership Interests
	Purchase of an Interest from Existing Partners
	Investing in an Existing Partnership
	Dissociation of a Continuing Partnership Through Death or Retirement
	Limited Partnerships
Chapter 17: Partnership Liquidation
	The Liquidation Process
	Safe Payments to Partners
	Installment Liquidations
	Cash Distribution Plans
	Insolvent Partners and Partnerships
Chapter 18: Corporate Liquidations and Reorganizations
	Bankruptcy Reform Act of 1978
	Liquidation
	Illustration of a Liquidation Case
	Reorganization
	Financial Reporting During Reorganization
	Financial Reporting for the Emerging Company
	Illustration of a Reorganization Case
Chapter 19: An Introduction to Accounting for State and Local Governmental Units
	Historical Development of Accounting Principles for State and Local Governmental Units
	Overview of Basic Governmental Accounting Models and Principles
	The Financial Reporting Entity
	Comprehensive Annual Financial Report
	Chapter 20: Accounting for State and Local Governmental Units—Governmental Funds
	Recent Changes to Governmental Fund Accounting
	The General Fund
	Accounting for the General Fund
	Permanent Funds
	Capital Projects Funds
	Special Assessment Activities
	Debt Service Funds
	Accounting for the Debt Service Fund
	Governmental Fund Financial Statements
	Preparing the Government-wide Financial Statements
Chapter 21: Accounting for State and Local Governmental Units—Proprietary and Fiduciary Funds
	Proprietary Funds
	Internal Service Funds
	Enterprise Funds
	Proprietary Fund Financial Statements
	Fiduciary Funds
	Preparing the Government-wide Financial Statements
	Required Proprietary Fund Note Disclosures
Chapter 22: Accounting for Not-for-Profit Organizations
	The Nature of Not-for-Profit Organizations
	Not-for-Profit Accounting Principles
	Voluntary Health and Welfare Organizations
	“Other” Not-for-Profit Organizations
	Nongovernmental Not-for-Profit Hospitals and other Health Care Organizations
	Private Not-for-Profit Colleges and Universities
Chapter 23: Estates and Trusts
	Creation of an Estate
	Probate Proceedings
	Administration of the Estate
	Accounting for the Estate
	Illustration of Estate Accounting
	Accounting for Trusts
	Estate Taxation
Glossary
Index
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	K
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	N
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	P
	Q
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Chapter 1: Business Combinations
Chapter 2: Stock Investments—Investor Accounting and Reporting
Accounting for Stock Investments
Chapter 3: An Introduction to Consolidated Financial Statements
Business Combinations Consummated Through Stock Acquisitions