Final Exam Study Guide

Final Exam Study Guide - in the preparation of consolidated...

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Final Exam Study Guide Here is a list of the subjects that will be covered in Part 2 of the final exam: ~ Explain and apply the "equity method of accounting" to appropriate acquisitions. ~ Describe and apply the generally-accepted accounting principles relating to business combinations under the "parent company theory" and the "entity theory". ~ Analyze information for consolidated financial statements under the purchase method, including adjustment and elimination of inter-company profits, losses, and other inter- company transactions. ~ Apply appropriate accounting principles relating to the translation of foreign currency
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Unformatted text preview: in the preparation of consolidated financial statements of multinational companies. ~ Analyze partnership-related transactions and properly account for the formation, operations, termination (admission of new partners or withdrawal of partners), and the liquidation of a partnership. ~ Apply proper accounting treatment for legal reorganization and liquidation of a business entity. ~ Understand worldwide accounting diversity and the internationalization of accounting standards....
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This note was uploaded on 09/28/2011 for the course ACC 431 taught by Professor Talbert during the Spring '08 term at National.

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