ACC 331 - Advanced Accounting I (3)

Prerequisite: ACC 232 with a C- or higher, or permission.

This course focuses primarily on financial accounting concepts and methods of analysis applicable to accounting for 1) combined, consolidated financial statements; and 2) multinational accounting issues (foreign currency transactions and financial instruments, and translation of foreign entity financial statements). Upon successful completion of this course, students will recognize the ethical implications and understand the precise accounting terminology and rules and procedures related to combined and/or consolidated corporations. In addition, students will recognize and account for transactions with foreign countries that have currencies other than U.S. dollars (foreign currency exchange rate differences), and be able to translate and/or restate financial statements that are denominated in currencies other than U.S. dollars.