Advanced Accounting

education & consulting in

Managerial Accounting

Cost Accounting

This course discusses concepts, techniques, and latest development in production, product, process, and activity costing. The discussion includes cost accounting and analysis techniques useful in various industries and differing circumstances. Cost budgets and cost standards are illustrated as tools for planning, performance and managerial control. After taking this course, students are expected to have a broader perspective on the production cost determination as a critical element in price setting and performance evaluation.

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	Management Accounting
1	Organization and Accounting
2	Measuring and Analyzing Activity Costs
3	Measuring and Analyzing Product Costs
4	Managing Activities
5	Short Term Decisions and Constraints
6	Managing Organization
7	Decentralized Organizations
8	Budgeting
9	Cost Allocation
10	Absorption Costing Systems
11	Variable Costing and Capacity Costing
12	Standard Cost & Variable Analysis
13	Investment Decisions
14	Accounting in Dynamic Environment

	Understanding Financial Statements
1	Financial Statements An Overview
2	The Balance Sheet
3	Income Statement and Equity
4	Statement of Cash Flows
5	Earnings and Financial Reporting
6	Analysis of Financial Statements

Advanced Accounting course examines accounting topics for partnerships, mergers, acquisitions, business combinations, and discusses other advanced topics beyond the topics introduced in the first-year prerequisite courses, such as foreign currency translation and partnership accounting. It is designed to prepare students to interpret and analyze financial statements effectively. Therefore, prior to taking this course, students are expected to have a sound grasp of the basics of financial accounting.

This course also explores in a greater depth financial reporting topics introduced in Advanced Accounting I as well as other transactions not covered in that prerequisite course. Special emphasis is put upon specific problem solving in accounting for partnerships, business combinations and consolidations, inter-company transactions, and other aspects of inter-corporate stock ownership necessary for the preparation of consolidated financial statements. Intensive class participation is required for the success of the learning process.

This course also provides an explanation to the determination, development, and uses of internal accounting information needed by business management to satisfy customers in conjunction with continuous cost control. This course examines basic principles of cost management and other related issues such as manager performance evaluation, management activity and process, and applications of activity-based costing and just in time manufacturing. Topics include contemporary cost accounting; activity based management; strategic cost management; capital investment decision; pricing and revenue analysis; and balanced scorecard. The aim of this course is to prepare students with comprehensive understanding on the benefits of cost management in managing corporate organizations.

	Cost Accounting
1	Accountant’s Role in the Organization
2	Introduction to Cost Terms and Purposes
3	Cost-Volume-Profit Analysis
4	Job Costing
5	Activity-Based Costing
6	Master Budgeting
7	Flexible Budgets, Direct-Cost Variances
8	Flexible Budgets, Overhead Cost Variances
9	Inventory Costing and Capacity Analysis
10	Determining How Costs Behave
11	Decision Making and Relevant Information
12	Pricing Decisions and Cost Management
13	Strategy, Balanced Scorecard
14	Cost Allocation, Customer Profitability Analysis
15	Allocation of Support Department Costs
16	Cost Allocation: Joint Products and Byproducts
17	Process Costing
18	Spoilage, Rework, and Scrap
19	Quality, Time, and the Theory of Constraints
20	Inventory Management, Just-in-Time
21	Capital Budgeting and Cost Analysis
22	Management-Control Systems, Transfer Pricing
23	Performance Measurement, Compensation

Accounting Theory

This course discusses the importance of theory-building explanation and prediction of the usefulness of accounting information in economic decision making for financial information users. Topics include the history of accounting, philosophy of accounting theory, normative accounting theory, and positive accounting theory. The objective of this course is to provide knowledge to students in order to understand contemporary accounting theory.

Ch	Financial Accounting Theory
1	Financial Accounting Theory
2	Accounting Under Ideal Conditions
3	Approach to Financial Reporting
4	Efficient Securities Markets
5	Information Approach to Decision
6	Measurement Approach to Decision
7	Measurement Applications
8	Economic Consequences, Accounting Theory
9	An Analysis of Conflict
10	Executive Compensation
11	Earnings Management
12	Standard Setting: Economic Issues
13	Standard Setting: Political Issues

Advanced Accounting

1	Business Combinations
2	Stock Investments
3	Consolidated Financial Statements
4	Consolidation Techniques and Procedures
5	Intercompany Profit Transactions
6	Profit Transactions – Plant Assets
7	Intercompany Profits on Bonds
8	Changes in Ownership Interests
9	Indirect and Mutual Holdings
10	Preferred Stock, EPS, and Taxes
11	Push-Down Accounting, Joint Ventures
12	Derivative & Foreign Currency Transactions
13	Foreign Currency Financial Statements
14	Segment and Interim Reporting
15	Partnerships – Formation, Operations
16	Partnership Liquidation
17	Corporate Liquidations & Reorganizations
18	Accounting for State & Local Government
19	Governmental Funds
20	Proprietary and Fiduciary Funds
21	Not-for-Profit Organizations Accounting
22	Estates and Trusts