Course

code	EY427
credit_hours	3
title	Advanced Financial Accounting
arbic title
prequisites	EY211
credit hours	3
description	This course is the last exposure to the area of 'Financial Accounting'. The main aim of the course is to learn about business combinations & consolidated financial statements. Further, the course offers an exposure to the 'International Accounting' environment & the foreign currency transactions.
arabic description
objectives	•Define business combinations & its different forms Discuss accounting for business combinations •Prepare consolidated financial statements at the date of acquisition & in years subsequent to acquisition •Get familiar to the 'International Accounting' environment •Account for foreign currency transactions
arabic objectives
ref. books
arabic ref. books
textbook
arabic textbook
objective set	bullets
content set	combined

Course Content

content serial	describtion
1	Introduction & Overview. Basic concepts in financial accounting. Types of financial statements. Accounting for investment.
2	Concepts of Business Combination Reasons for business combination. Types of expansion for a company. Basic types of business combination
3	Acquisition of stock and assets. Acquisition of net assets for cash. Acquisition of net assets for stocks. Acquisition of stocks for stocks. Acquisition of stocks for cash.
4	Accounting for business combination. Under the purchase method. Under the pooling of interest method.
5	Consolidated Financial Statements at the Time of Acquisition. Preparation of the worksheet when ownership=100%. Preparation of the worksheet when ownership is less than 100%.
6	Comprehensive Problem (Exam Review)
7	7th Week Exam
8	Cost Method & Equity Method. Accounting for long term investment in common stocks. Cost method versus equity method.
9	Consolidated Financial Statements in one year Subsequent to Acquisition. Preparation of consolidated financial statements after 1 year of acquisition when ownership=100%. Preparation of consolidated financial statements after 2 year of acquisition when ownership=100%.
10	Consolidated Financial Statements in two years Subsequent to Acquisition. Preparation of consolidated financial statements after 1 year of acquisition when ownership is less than 100%. Preparation of consolidated financial statements after 2 year of acquisition when ownership is less than100%.
11	Inter-company merchandise transfer. Upstream sale of merchandise. Preparation of consolidated financial statement.
12	12th Week Exam
13	Inter-company merchandise transfer. Downstream sale of merchandise. Preparation of consolidated financial statement.
14	Foreign Currency Transactions. Foreign Currency Exchange Risk. Hedges.
15	General Revision & Applications
16	Final Exam