Advanced Financial Accounting explores high-level accounting topics with a focus on the theory and practice relevant to the preparation and analysis of financial statements for large corporations and multinational entities. It covers areas such as consolidation accounting, foreign currency translation, accounting for corporate reorganizations, and the analysis of complex financial instruments.    

Key Topics

 

1. Consolidation of Financial Statements: Understanding the preparation of consolidated financial statements for entities with subsidiaries, associates, and joint arrangements.
2. Accounting for Business Combinations: Studying the principles and methods of accounting for mergers, acquisitions, and disposals, including the calculation of goodwill and non-controlling interests.
3. Foreign Currency Transactions and Translation: Handling accounting issues related to foreign currency transactions, including the translation of foreign entity financial statements into the parent company’s presentation currency.
4. Complex Financial Instruments and Hedging Activities: Examining the recognition, measurement, and disclosure of complex financial instruments such as derivatives and hedging activities.
5. Corporate Reorganizations and Bankruptcies: Understanding the accounting procedures for corporate restructurings, including liquidations and bankruptcies.
6. Interim and Segment Reporting: Learning about the preparation and significance of interim financial reporting and segment reporting.
7. Emerging Issues in Financial Accounting: Discussing contemporary challenges and new developments in financial accounting standards and practices.