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UNIVERSITAS KLABAT

FAKULTAS EKONOMI

Universitas Klabat is committed to excellence in Sevent-day Adventist Christian education and strives to create
an environment where students can develop noble characters for eternity and where they can acquire the
values, knowledge, and skills necessary for a lifetime leadership, service, and responsible citizenship.

COURSE OUTLINE ADVANCED ACCOUNTING 2


1st SEMESTER, SCHOOL YEAR 2014/2015
Course Title:
Course Number:
Lecturer:
e-mail:
Group home page:
Group email address:

Advanced Accounting I
AKUN 411 (3 credits)
Dr. Stanley S. Nangoy
jonan_nangoy@yahoo.com
https://groups.yahoo.com/group/unklab-advancedaccounting
unklab-advancedaccounting@yahoogroups.com

Required Texts :
1. Beams, F.A., Anthony, J.H., Bettinghaus, B., Smith, K. 2012, Advanced Accounting 11th
edition, Upper Saddle River, New Jersey; Pearson Prentice Hall International edition
(ISBN 0-13-283036-1)
2. Hoyle, Schaefer, Doupnik, 2012, Advanced Accounting 8th edition, New York; Irwin
McGraw-Hill Publishing (ISBN 0-07-299188-7)
3. Source of Information from internet related topics.
Course Description
This course is a continuation Advanced Accounting 1, covers the topics: Partnership;
Consolidation Theory, Push-Down Accounting; Derivatives, Foreign Currencies and
Hedging; Foreign Currency Financial Statement; Segment and Interim Financial Reporting;
and Corporate Liquidations and Reorganization.
Prerequisite: AKUN 410
.

Course Objectives:
Students will be required to analyse corporate financial records and address specialized
advanced accounting issues in Partnership, Consolidation Theory and Push-Down
Accounting, Derivatives/Foreign Currencies and Hedging, Segment and Interim Reporting,
and Corporate Liquidations and Reorganization. Upon successful conclusion of Advanced

Accounting 2, students are expected to understand and be able to analyse/prepare/record/


report:
1. Partnership: Formation, Operation, Changes in Ownership Interest and
2.
3.
4.
5.
6.

Liquidation
Segment and Interim Reporting
Corporate Liquidation and Reorganization
Consolidation theory, Push-Down Accounting and Corporate Joint Ventures
Derivatives and Foreign Currency: Concepts and Common Transactions
Derivatives /Hedging Activities and Foreign Currency Financial Statements

This course seeks to prepare students for careers in both private and public accounting,
finance, and business consulting. Specifically, it is intended to promote honesty and
integrity in dealing with accounting issues as well as good judgment, critical thinking and
technical competency, help develop life-long research skills, foster communication skill
development.
Learning Method and Class requirements
1.

There will be two sessions per week which will include lectures, and activities in
exploring the latest Generally Accepted Accounting Principles (GAAP) as well as Prinsip-prinsip
Akuntansi Indonesia (PAI) in analysing corporate business transactions, then use excel based
spread sheet program in solving accounting exercises, problems and evaluations.

2.

Each student needs to buy the text-book, in order to participate in the class activities.

3.

Regular class attendance is required.

4.

Students are required to join the class interactive groups at


https://groups.yahoo.com/group/unklab-advancedaccounting

5.

Students are encouraged to read widely not limiting one to prescribed books but to
any books, magazines, journals, web-sites which cover a particular topic being learnt in class.

6.

Students are encouraged to work in groups when doing exercises, problems and their
homework. However quizzes and chapter tests will be conducted regularly to assess individual
understanding for each topic discussed during the week.

7.

Students should adequately prepare for quizzes, tests and examinations.

Meetings and Topics Presentation


Date
14, 19, 21
January

Topics

Chapter 16 :
Partnership-Formation,
Operations, and Changes in
Ownership Interest

26, 28 January

Chapter 17:
Partnership Liquidation

2 February
4, 9 February

Chapter 15:
Segment and Interim
Reporting

11, 16, 18
February
Chapter 18 :
Corporate Liquidations and
Reorganization

Learning Objectives
Comprehend the legal characteristics of
partnership
Understand initial investment valuation and
record keeping
Grasp the diverse nature of profit and loss
sharing agreements and their computation
Value a new partners investment in an existing
partnership
Value a partners share upon retirement or death
Understand limited liability partnership
characteristics
Understand the legal aspects of partnership
liquidation
Apply simple partnership liquidation
computations and accounting.
Perform safe payment computations
Understand instalment liquidation
Learn about cash distribution plan for
instalment liquidation
Comprehend liquidation when either the
partnership or the partners are insolvent
Test 1
Understand how the management approach
is used to identify potentially reportable
operating segment
Apply the threshold test s to identify
reportable operating segment: the revenue
test, the asset test, and the operating profit
test.
Apply the 75% external revenue test to
determine whether additional segments must
be reported
Understand what segment disclosures are
reconciled to the consolidated amounts
Know the types of enterprise-wide
disclosures related to products and services,
geographic areas, and major customers need
to be disclosed.
Understand the similarities and differences
in the reporting of operations in an interim
versus an annual reporting period
Compute interim period income tax expense

Understand differences among types of


bankruptcy filings
Comprehend trustee responsibilities and
accounting during liquidation
Understand financial reporting during
reorganization
Understand financial reporting after emerging

23 February
25 February
2, 4 March

9, 11
March

16 March
18, 23, 25
March

from reorganization, including fresh start


accounting
Test 2
Understand the impact of intercompany profit
in inventories on preparing consolidation
work papers
Apply the concepts of up-steams versus downstreams inventory transfers
Defer unrealized inventory profits remaining in
the ending inventory
Chapter 12:
Recognize realized, previously deferred
Derivatives and Foreign
inventory profits in the beginning inventory.
Currency
Adjust calculation of non-controlling interest
amounts in the presence of intercompany
inventory profits.
Understand differences in consolidation work
paper techniques related to intercompany
inventory profits when parent company uses
either an incomplete equity method or the
cost method.
Assess the impact of intercompany profit on
transfers of plant assets in preparing
consolidation work paper
Defer unrealized profits on plant assets
transfers by either the parent or subsidiary
Recognize realized previously deferred profits
Chapter 13:
on plant assets transfers
Accounting for Derivatives and
Adjust the calculation of non-controlling
Hedging Activities
interest share in the presence of
intercompany profits on plant assets transfers
Understand differences in consolidation work
paper techniques for plant asset transfers
when parent company uses either an
incomplete equity method or the cost method
Midterm Exams
Identify the factors that should be considered
when determining an entitys functional
currency
Understand how foreign investment subsidiary
Chapter 14:
is account for at acquisition
Foreign Currency Financial
Know how the transaction gain or loss is
Statement
reported under the current rate and temporal
methods
Understand consolidation under temporal and
current rate methods.

30 March
1, 6 April

8 April
13, 15
April

20,22, 27
April

Compare and contrast the elements of


consolidation approaches under traditional,
parent company, and contemporary/entity
Chapter 11:
theory
Consolidation Theory, Push- Adjust subsidiary assets and liabilities to fair
down Accounting and Joint
values using push-down accounting
Ventures
Account for corporate and unincorporated joint
ventures
Identify variable interest entity
Consolidate a variable interest entity
Test 4

Prepare
consolidated statements when the
Chapter 9:
parents controls through indirect holdings.
Indirect and Mutual Holdings
Apply consolidation procedures to the special
case of mutual holdings.
Modify consolidation procedures for subsidiary
with outstanding preferred stock.
Chapter 10:
Subsidiary Preferred Stocks, Calculate basic and diluted EPS for
consolidated entity.
Consolidated Earnings per
share and consolidated Income Understand the complexities of accounting for
taxation
income taxes by consolidated entities.
Electronic supplement : Account for branch
operations
Final Exams

Grading system
1. Class Attendance
2. Quizzes
3. Group Assignment

: 10 %
: 10 %
:5%

4. Chapter tests
5. Midterm test
6. Final Exams

: 25%
: 25%
: 25%