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Advanced Financial Reporting: Accounting for Business Combinations and Preparation of Consolidated Financial Statements

Approx. 25 hours to complete

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Course Summary

This course focuses on the advanced concepts of financial reporting, including the analysis of financial statements, the use of accounting information in decision making, and the evaluation of financial risks.

Key Learning Points

Learn how to interpret and analyze complex financial statements
Understand the role of accounting information in decision making
Explore the various methods for evaluating financial risks

Job Positions & Salaries of people who have taken this course might have

Financial Analyst
- USA: $70,000 - $100,000
- India: ₹500,000 - ₹1,000,000
- Spain: €30,000 - €50,000
Senior Accountant
- USA: $80,000 - $120,000
- India: ₹600,000 - ₹1,500,000
- Spain: €35,000 - €60,000
Chief Financial Officer
- USA: $150,000 - $300,000
- India: ₹2,000,000 - ₹5,000,000
- Spain: €80,000 - €150,000

Learning Outcomes

Ability to analyze and interpret complex financial statements
Understanding of the role of accounting information in decision making
Ability to evaluate financial risks and make informed decisions

Prerequisites or good to have knowledge before taking this course

Basic understanding of accounting principles
Proficiency in Excel

Course Difficulty Level

Advanced

Course Format

Online
Self-paced

Similar Courses

Financial Markets
Corporate Finance

Related Education Paths

Related Books

Description

This course covers the accounting for business combinations (ASC 805), the preparation of consolidated financial statements (ASC 810), and other related topics including, but not limited to: step-by-step acquisition, deconsolidation, segments reporting, and the goodwill impairment test. This course begins with a discussion of the scope of ASC 805 and the differences between business combinations and asset acquisitions. Next, the course explores the measurement and recognition principles of the acquisition method to account for business combinations. Then, the course covers the consolidation process. You will learn how to prepare the consolidated financial statements and make all of the necessary consolidation adjustments.

Outline

Course Orientation
Course Overview
Meet Professor Kustanovich
Learn on Your Terms
Syllabus
About the Discussion Forums
Learn More About Flexible Learning Paths
Updating Your Profile
Orientation Quiz

Module 1: Control of a Business
Overview of Accounting for Investment in Equity Securities – Part 1
Overview of Accounting for Investment in Equity Securities – Part 2
Control
Scope of ASC 805 – "Business Combinations"
Acquisition of a Group of Assets
Module 1 Overview and Resources
Lesson 1-1 Knowledge Check
Lesson 1-2 Knowledge Check
Lesson 1-3 Knowledge Check
Lesson 1-4 Knowledge Check

Module 2: Acquisition Method
Overview of the Acquisition Method
Goodwill Equation
Consolidated Financial Statements on the Business Combination Date – Part 1
Consolidated Financial Statements on the Business Combination Date – Part 2
Module 2 Overview and Resources
Lesson 2-1 Knowledge Check
Lesson 2-2 Knowledge Check
Lesson 2-3 Knowledge Check

Module 3: Components of Consideration Transferred in a Business Combination
Share-Based Payment Awards
Express Scripts and Medco Merger
Contingent Consideration – Part 1
Contingent Consideration – Part 2
Module 3 Overview and Resources
Lesson 3-1 Knowledge Check
Lesson 3-3 Knowledge Check

Module 4: Assets Acquired and Liabilities Assumed
Identifiable Assets Acquired
Intangible Assets Other Than Goodwill
Defensive Asset and In-Process Research and Development (IPR&D)
Deferred Taxes on the Acquisition Date – Part 1
Deferred Taxes on the Acquisition Date – Part 2
Module 4 Overview and Resources
Lesson 4-1 Knowledge Check
Lesson 4-2 Knowledge Check
Lesson 4-3 Knowledge Check
Lesson 4-4 Knowledge Check

Module 5: Preparation of Consolidated Financial Statements after the Acquisition Date
Accounting Acquisition Premium (AAP)
The Effect of AAP on Consolidated Financial Statements
Consolidated Financial Statements with AAP – Part 1
Consolidated Financial Statements with AAP – Part 2
Intercompany Inventory Transactions
Module 5 Overview and Resources
Lesson 5-1 Knowledge Check
Lesson 5-2 Knowledge Check
Lesson 5-3 Knowledge Check
Lesson 5-4 Knowledge Check

Module 6: Intercompany Transactions and Noncontrolling Interest
Intercompany Transactions with Depreciable Assets
Intercompany Debt
Noncontrolling Interest (NCI)
Net Income Attributable to NCI
Consolidated Retained Earnings and Subsequent Measurement of NCI
Example of Consolidation with NCI
Module 6 Overview and Resources
Lesson 6-1 Knowledge Check
Lesson 6-2 Knowledge Check
Lesson 6-3 Knowledge Check
Lesson 6-4 Knowledge Check
Lesson 6-5 Knowledge Check
Lesson 6-6 Knowledge Check

Module 7: Change in the Percentage of Ownership and Other Related Topics
Business Combination Achieved in Stages – Part 1
Business Combination Achieved in Stages – Part 2
Deconsolidation
Change in the Percentage of Ownership without Loss of Control
Subsidiary Holds Shares of the Parent
Module 7 Overview and Resources
Lesson 7-1 Knowledge Check
Lesson 7-2 Knowledge Check
Lesson 7-3 Knowledge Check
Lesson 7-4 Knowledge Check

Module 8: Segment Reporting and Goodwill Impairment Test
Segment Reporting
Entity-Wide Disclosure
Goodwill Impairment Test – Identification of the Reporting Units
Goodwill Impairment Test – Qualitative Assessment
One-Step Quantitative Goodwill Impairment Test
Goodwill Impairment Test Under IFRS
Private Companies Accounting for Goodwill
Gies Online Programs
Module 8 Overview and Resources
Congratulations!
Get Your Course Certificate
Lesson 8-1 Knowledge Check
Lesson 8-2 Knowledge Check
Lesson 8-3 Knowledge Check
Lesson 8-4 Knowledge Check
Lesson 8-5 Knowledge Check
Lesson 8-6 Knowledge Check
Lesson 8-7 Knowledge Check

Summary of User Reviews

The Advanced Financial Reporting course on Coursera has received positive reviews from users. Many users found the course to be informative and well-structured, leading to a better understanding of financial reporting.

Key Aspect Users Liked About This Course

The course content and structure were praised by many users for being informative and easy to follow.

Pros from User Reviews

Course content is thorough and in-depth
Instructors are knowledgeable and provide clear explanations
Course is well-structured and easy to follow
Provides valuable insights on financial reporting practices
Ideal for professionals looking to enhance their knowledge on financial reporting

Cons from User Reviews

Some users found the course to be too technical
Course may not be suitable for beginners
Course material may be outdated in some areas
The course is challenging and requires a significant time commitment
Some users found the course to be too theoretical with less practical application

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