This course is the third of a three-part series of courses related to intermediate accounting. This course examines owners' equity, investments, income taxes, pensions and post-retirement benefits, as well as changes and error analysis. The course finishes with a look at derivative instruments. Interwoven in the presentation of the material is an assortment of ethical dilemmas that encourage discussions about how the accountant should handle specific situations.
Record journal entries related to common, preferred, and treasury stock.
Record journal entries related to the various types of dividends.
Calculate basic and diluted earnings per share (EPS).
Evaluate the various accounting treatments for stock compensation.
Distinguish between debt and equity investments.
Classify securities as available-for-sale, held-to-maturity, or trading.
Determine when to use the fair value and equity methods of accounting for investments.
Prepare journal entries for investments using the fair value and the equity method.
Distinguish between traditional and derivative financial instruments.
Accounting for Income Taxes
Differentiate between temporary and permanent differences.
Calculate current and deferred tax assets and liabilities.
Accounting for Pensions and Post-Retirement Benefits
Differentiate between a defined contribution and a benefit plan.
Determine the components of pension expense.
Calculate pension liability and expense.
Accounting Changes and Error Analysis
Prepare journal entries associated with changes in accounting principles, reporting entities, and estimates.
Prepare journal entries associated with changes due to errors.
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