About the Authors
Preface
Brief Contents
Table of Contents
Chapter 1: Accounting for Intercorporate Investments
When Should the Equity Method Be Used?
Accounting Procedures for an Investment Using the Equity Method (Basics)
Accounting for an Investment Using the Equity Method (Advanced Topics)
Data Analytics, Data Visualization, and Excel Activities
CPA Simulations and Practice Exam
Comprehensive Review Solution
Chapter 2: Introduction to Business Combinations and the Consolidation Process
Business Combinations and (Non-Business) Asset Acquisitions
Review of (Non-Business) Asset Acquisition Accounting
When Does “Control” Exist?
Consolidation on the Date of Acquisition
Recognizing and Measuring the Identifiable Assets Acquired and the Liabilities Assumed
Disclosure Example: Disney’s Acquisition Of Twenty-First Century Fox
Appendix 2A: Measuring Assets Acquired and Liabilities Assumed (Advanced)
Appendix 2B: Deferred Taxes and Business Combinations
Appendix 2C: Pushdown Accounting
Data Analytics, Data Visualization, and Excel Activities
CPA Simulations and Practice Exam
Comprehensive Review Solution
Chapter 3: Consolidated Financial Statements Subsequent to the Date of Acquisition
Post-Acquisition Consolidation When the Parent Uses the Equity Method of Investment Bookkeeping
Post-Acquisition Consolidation When the Parent Uses the Cost Method of Investment Bookkeeping
Comprehensive Review-Equity Method
Comprehensive Review-Cost Method
Appendix 3A: Complete Listing of Required Disclosures
Appendix 3B: Common Control Business Combinations and the Pooling-of-Interests Method
Data Analytics, Data Visualization, and Excel Activities
CPA Simulations and Practice Exam
Comprehensive Review-Equity Method Solution
Comprehensive Review-Cost Method Solution
Chapter 4: Consolidated Financial Statements and Intercompany Transactions
Accounting for Intercompany Sales of Inventory-Equity Method
Accounting for Intercompany Sales of Inventory-Cost Method
Accounting for the Intercompany Sales of Noncurrent Assets Between the Investor and the Investee(s)
Accounting for the Intercompany Sales of Noncurrent Assets Between the Investor and the Investee(s)
Comprehensive Review-Equity Method
Comprehensive Review-Cost Method
Appendix 4A: Consolidation When the Parent Uses the Partial Equity Method to Account for Its Equity
Data Analytics, Data Visualization, and Excel Activities
CPA Simulations and Practice Exam
Comprehensive Review-Equity Method Solution
Comprehensive Review-Cost Method Solution
Chapter 5: Consolidated Financial Statements with Less Than 100% Ownership
Basics of Consolidating Noncontrolling Interests
Post-Acquisition Consolidation And Noncontrolling Interests-Equity Method
Post-Acquisition Consolidation and Noncontrolling Interests-Cost Method
Suggested Integrated Approach for Mastering Complex Consolidations
Comprehensive Review-Equity Method
Comprehensive Review-Cost Method
Appendix 5A: Business Combinations and Alternative Measurements of Noncontrolling Interest
Appendix 5B: Consolidated Earnings Per Share (EPS)
Appendix 5C: Accounting for Changes in Ownership
Data Analytics, Data Visualization, and Excel Activities
CPA Simulations and Practice Exam
Comprehensive Review Solution-Equity Method
Comprehensive Review Solution-Cost Method
Chapter 6: Consolidation of Variable Interest Entities and Other Intercompany Investments
Parent Investment in Variable Interest Entities (VIEs)
Intercompany Investment in Affiliates’ Debt
Parent Investment in a Subsidiary with Preferred Stock Outstanding
Comprehensive Review-Equity Method
Comprehensive Review-Cost Method
Appendix 6A: Detail of Required Disclosures Related to VIEs
Data Analytics, Data Visualization, and Excel Activities
CPA Simulations and Practice Exam
Comprehensive Review Solution-Equity Method
Comprehensive Review Solution-Cost Method
Chapter 7: Accounting for Foreign Currency Transactions and Derivatives
Effect of Exchange Rates on the Income Statement and the Balance Sheet
Accounting for Foreign Currency Transactions Gains and Losses
Derivative Financial Instruments
Appendix 7A: Borrowing in a Foreign Currency
Appendix 7B: Assessing the Effectiveness of Hedging Instruments
Appendix 7C: Required Disclosures Relating to Derivatives
Appendix 7D: Derivative Financial Instruments
Appendix 7E: Examples of (Non-Foreign Currency) Hedging Transactions
Data Analytics, Data Visualization, and Excel Activities
CPA Simulations And Practice Exam
Comprehensive Review Solution
Chapter 8: Consolidation of Foreign Subsidiaries
The Remeasurement of Foreign-Currency-Denominated Financial Statements
Consolidation of Foreign Subsidiaries
Appendix 8A: Direct Computation of Translation Adjustment and Remeasurement Gain (Loss)
Appendix 8B: Hedging the Net Investment in a Foreign Subsidiary
Data Analytics, Data Visualization, and Excel Activities
CPA Simulations and Practice Exam
Comprehensive Review Solution
Chapter 9: Government Accounting: Fund-Based Financial Statements
The Town of Acton, Massachusetts
Appendix 9A: Specialized Governmental Funds
Data Analytics, Data Visualization, and Excel Activities
CPA Simulations and Practice Exam
Comprehensive Review Solution
Chapter 10: Government Accounting: Government-Wide Financial Statements
The Town of Acton, Massachusetts-Continued
Comprehensive Annual Financial Report
Government-wide Financial Statements
Data Analytics, Data Visualization, and Excel Activities
CPA Simulations And Practice Exam
Comprehensive Review Solution
Chapter 11: Accounting for NotforProfit Organizations
Statement of Financial Position
Statement of Functional Expenses
Data Analytics, Data Visualization, and Excel Activities
CPA Simulations and Practice Exam
Comprehensive Review Solution
Chapter 12: Segment Disclosures and Interim Financial Reporting
Reportable Operating Segments
Interim Financial Reporting
Data Analytics, Data Visualization, and Excel Activities
CPA Simulations and Practice Exam
Comprehensive Review Solution
Chapter 13: Accounting for Partnerships
Boardwalk Pipeline Partners, LP
The Partnership Form of Organization and Its Governance
Accounting for the Formation of the Partnership
Accounting for Changes in Partnership Ownership (Realignment)
Allocation of Profit (Loss), Drawing Accounts and the Capital Account
Data Analytics, Data Visualization, and Excel Activities
CPA Simulations And Practice Exam
Comprehensive Review Solution
Appendix A: Data Analytics and Blockchain Technology
Summary of Learning Objectives
Video Resources For Tableau
Additional Assignments are Available in myBusinessCourse.
Index
