Record consolidation and elimination journal entries under conditions of less than 100% ownership and economic unit, parent company, and proportionate consolidation concepts.
Prepare consolidating worksheets under conditions of less than 100% ownership.
Record upstream and downstream intercompany transaction journal entries.
Calculate consolidated earnings per share.
Prepare consolidated statements of cash flows.
Accounting for Investments
Explain the cost and equity methods of accounting for investments.
Distinguish between the cost method and the equity method of accounting.
Describe the role of the International Accounting Standards Board.
Foreign Currency Transactions and Translations
Record foreign currency transactions.
Prepare financial statements translated from foreign currency.
Consolidation: 100% Ownership
Record consolidation and elimination journal entries under conditions of 100% ownership.
Prepare consolidating financial statements under conditions of 100% ownership.
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