ACC/545 - Financial Reporting
Course Description
This course prepares students to address concepts of financial reporting for roles as CPAs. Students learn important criteria for calculating capital changes, applying concepts of fixed assets and cost determination, and preparing consolidated financial statements. Other topics include the professional responsibilities of CPAs, deferred taxes, restructuring of troubled debt, and the intricacies of comprehensive income.
This graduate course is 6 weeks.
This course has a prerequisite. Please see details in the Prerequisite section below.
PLEASE NOTE:
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.
Course Objectives
Reporting Overview
- Describe the financial reporting role and responsibilities of the CPA, including recognition, measurement, and disclosure.
Net and Comprehensive Income
- Explain criteria for calculating capital changes.
- Prepare consolidated financial statements.
Assets
- Use short-term and long-term assets and cost determination to the preparation of financial statements.
- Explore financial reporting for leases.
Liabilities and Owners' Equity
- Apply financial instruments as liabilities.
- Prepare pensions liabilities and postretirement benefits.
- Utilize financial reporting of owners' equity for decision-making.
The Importance of Financial Information and Cash Flows
- Use financial and contracting information to perform valuation and credit risk assessment.
- Prepare statement of cash flows.
Advanced Financial Reporting
- Manage inventories.
- Account for inter-corporate investments.
Notes
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.
Prerequisites
This graduate level course requires proof of completion of a Bachelor's degree. Be prepared to provide documentation during the checkout process.
Disclaimers
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 a University 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.