Accounting 501/701
International
Accounting and Combinations
Spring,
2007
INSTRUCTOR: Dr. Daniel Thorne
BTC 023, 622-1092/1087
e-mail: dan.thorne@eku.edu
URL: http://www.people.eku.edu/thorned/
PREREQUISITE: ACC 302 with a minimum grade of
"C"
TEXT: Fishcher,
Taylor and Cheng, Advanced Accounting, ninth edition.
Worksheets or accounting paper.
OBJECTIVES: (1) Students will have a conceptual and technical
understanding of business combinations including how to account for the
combination at the date of the acquisition and subsequent to the acquisition,
and how to account for parent company and subsidiary company transactions in
subsidiary stock.
(2)
Students will understand accounting in an international setting along with
being able to demonstrate the knowledge necessary to account for foreign
currency transactions and the translation of foreign currency financial
statements.
(3)
Additional objective for graduate students:
students will be able to apply critical thinking skills related to the international
accounting environment including the ability to discuss differences in culture,
society and history in relation to accounting standards differences among
countries. They will understand not just
what the differences are, but why the differences exist and what some solutions
to the problem are.
(The
professor reserves the right to retain for pedagogical reasons either the
original, or a copy, of any student=s test, written assignment, paper, video,
or similar work submitted by the student, either individually or as a group
project, for this class. Student=s names will be deleted from any
retained items.)
If
there is any student in this class who is in need of academic accommodations
and who is registered with the Office of Services for Students with
Disabilities, please make an individual appointment with the course instructor
to discuss accommodations. Upon
individual request, this syllabus can be made available in alternative forms. If any student who is not registered with the
Office of Services for Students with Disabilities has need of academic
accommodations, please contact the Office directly either in person on the
first floor of the Turley House or by telephone at 622-1500.
GRADING: 1. Semester Exams (2) 200
Homework (5 ea*12) 60
Computer Problem 30
Country Report 30
Final Exam 100
Total points 410 or 420
2. Undergraduate: Your grade will be
based upon 90%, 80%, 70%, and 60% of the total 410 points for an A, B, C or D
respectively.
Graduate: Your grade will be based upon 93%, 83%
and 73% of the total 420 points respectively.
Plus and minus grades will be given when your point total falls within
two percentage points of a cut-off.
3. There will be no make-up exams and no late
homework accepted unless you have made arrangements with me PRIOR to the
exam or assignment date.
4. The assignments in brackets [ ] will be turned in on the last day of that
chapter's coverage. These problems will
be graded for pre-class effort and will be counted as the 50 homework points.
They must be turned in at the beginning of the class period. You will need to make yourself a copy of
these problems if you want to make corrections in class. These assignments should be of a finished
copy format.
5.
The computer problem requires an intermediate understanding of Excel
spreadsheet skills. You will be required
to build a template for a combination of two companies and produce a balance
sheet and income statement from your template.
If you are weak on working with spreadsheets, then you should start
reviewing now!
6. The country report will involve gathering
information about an assigned country from library and internet sources. You will need to find financial statements
for a firm in the country that uses domestic accounting standards and discuss
cultural, societal and accounting differences between your country and the
7.
Hours Chapter Assignment
ACCOUNTING
FOR BUSINESS COMBINATIONS:
January
16,23 INTRO
& 1 EA1,
E2, E3, P2, E7, P4,[P3], P5, E9, P1
Date of
Acquisition
23,30 2 E2,
P1, P4, P6, [P13], (P14)
February
Subsequent
to Acquisition
30,6 3 E3,
E4, [P6], P18, P5, P8, P1
13 EXAM
(1-3)
Intercompany Transactions
6,20 4 E3,
[P2], P5, E4, E5, E11, P11
page 141 and 227 P4A1
Unconsolidated
Investments
27
March 6
(351 to 357) E8,
E10, E11, [P13]
Parent
Transactions in Subsidiary Stock
27,6 7 (389 to 404)
(413 to 414) E2,
E4, P3, [E7], E6, PA1
Subsidiary
Equity Transactions
6,20 8 (457 to 467) E1, E7-1,
E2, E3, [P1], (P3)
Segment
Reporting
20,27 12 (744 to 752) [E12], P10,
E10, P9, (P8)
ACCOUNTING
FOR INTERNATIONAL BUSINESS:
The
International Accounting Environment
27,10 9 Hand-outs,
IASB, IAS v GAAP,
April
3 EXAM
(4,6,7,8,12)
Foreign
Currency Transactions
10,17 10 E1,
E3, E7, [P6], P1, E4, (P2)
Translation
of Foreign Financial Statements
17,24 11 E2, P2, [P3],
P4, Handout: E2, E4
Country
24,1
FINAL EXAM (9,10,11):
Tuesday, May 8, 6:00 pm.