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.
This undergraduate course is 5 weeks.
This course has a prerequisite. Please see details in the Prerequisite section below.
Attendance and participation are mandatory in all university courses, and specific requirements may differ by course. If attendance requirements are not met, a student may be removed from the course. Please review the Course Attendance Policy in the Catalog for more information.
Topics and Objectives
Stockholders’ Equity, Dilutive Securities, and Earnings Per Share
- Distinguish between the components of stockholders’ equity.
- Record journal entries related to common, preferred, and treasury stock.
- Identify the four types of dividends and why each is used by a corporation.
- Calculate basic and diluted earnings per share (EPS).
- Evaluate the accounting treatments and reporting for stock compensation plans.
- Distinguish between debt and equity investments.
- Identify 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.
- Describe the uses of and accounting for derivatives.
- Prepare journal entries for traditional and derivative financial instruments.
Accounting for Income Taxes
- Differentiate between temporary and permanent differences.
- Calculate current and deferred tax assets and liabilities.
- Explain the accounting for net operating losses.
- Discuss the presentation of income taxes in the financial statements.
Accounting for Pensions & Post-Retirement Benefits
- Identify types of pension plans and their characteristics.
- Calculate the five parts of pension expense and properly record the journal entry for pension expense.
- Describe the requirements for reporting pension plans in financial statements.
- Explain the major issues with pension plans and post-retirement benefits.
Accounting for Changes and Errors
- Explain the specific accounting and reporting requirements for accounting changes and errors.
- Prepare journal entries and disclosures associated with changes in accounting principles, reporting entities, and estimates.
- Prepare journal entries and disclosures associated with changes due to errors.
A prerequisite is required for this course. The purpose of a prerequisite is to ensure students have the knowledge and/or skills needed to be successful in the course. Students are required to provide proof of prerequisite during the enrollment/registration process. To meet to a course prerequisite requirement, a student must have successfully completed the prerequisite course at University of Phoenix, provide proof via transcript of completing a comparable course (at least 75% match) or higher level course with at least a grade of C at another institution or have a University of Phoenix approved Student Appeal on file with the University.
This course requires the prerequisite below. Click on the prerequisite course to review the course topics and objectives.
ACC/422 – Intermediate Financial Accounting II or equivalent
During the checkout process you will be prompted to provide proof of the requirement(s). If you completed the prerequisite at another institution be prepared to upload an official/unofficial transcript. If you have questions about meeting the prerequisite requirements for this course please contact an enrollment representative at 866-354-1800.
The University of Phoenix reserves the right to modify courses.
While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with an Enrollment Representative.
Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.
If you have a question contact us at 866-354-1800.