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.
Prepare journal entries associated with changes due to errors.
Prepare journal entries associated with changes in accounting principles, reporting entities, and estimates.
Accounting for Pensions and Post-Retirement Benefits
Calculate pension liability and expense.
Determine the components of pension expense.
Differentiate between a defined contribution and a benefit plan.
Accounting for Income Taxes
Calculate current and deferred tax assets and liabilities.
Differentiate between temporary and permanent differences.
Distinguish between traditional and derivative financial instruments.
Prepare journal entries for investments using the fair value and the equity method.
Determine when to use the fair value and equity methods of accounting for investments.
Classify securities as available-for-sale, held-to-maturity, or trading.
Distinguish between debt and equity investments.
Owners' Equity and Earnings per Share
Evaluate the various accounting treatments for stock compensation.
Calculate basic and diluted earnings per share (EPS).
Record journal entries related to the various types of dividends.
Record journal entries related to common, preferred, and treasury stock.
Distinguish between paid-in and earned capital.
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