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Advanced Financial Reporting: Accounting for Business Combinations and Preparation of Consolidated Financial Statements
  • Level Expert
  • Duration 25 hours
  • Course by University of Illinois Urbana-Champaign
  • Offered by

About

This course covers the accounting for business combinations (ASC 805), the preparation of consolidated financial statements (ASC 810), and other related topics including, but not limited to: step-by-step acquisition, deconsolidation, segments reporting, and the goodwill impairment test. This course begins with a discussion of the scope of ASC 805 and the differences between business combinations and asset acquisitions. Next, the course explores the measurement and recognition principles of the acquisition method to account for business combinations. Then, the course covers the consolidation process. You will learn how to prepare the consolidated financial statements and make all of the necessary consolidation adjustments.

Modules

About the Course

    • 3 Videos
    • 3 Readings
    • 1 Quiz
Show info about module content

3 Videos

  • Course Overview
  • Meet Professor Kustanovich
  • Learn on Your Terms

3 Readings

  • Syllabus
  • About the Discussion Forums
  • Online Education at Gies College of Business

1 Quiz

  • Orientation Quiz

About Your Classmates

    • 1 Readings
    • 1 Discussion
Show info about module content

1 Discussions

  • Getting to Know Your Classmates

1 Readings

  • Updating Your Profile

Module 1 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 1 Overview and Resources

Lesson 1-1 Overview of Accounting for Investment in Equity Securities

    • 2 Videos
    • 1 Quiz
Show info about module content

2 Videos

  • Overview of Accounting for Investment in Equity Securities – Part 1
  • Overview of Accounting for Investment in Equity Securities – Part 2

1 Quiz

  • Lesson 1-1 Knowledge Check

Lesson 1-2 Control

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Control

1 Quiz

  • Lesson 1-2 Knowledge Check

Lesson 1-3 Scope of ASC 805 – "Business Combinations"

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Scope of ASC 805 – "Business Combinations"

1 Quiz

  • Lesson 1-3 Knowledge Check

Lesson 1-4 Acquisition of a Group of Assets

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Acquisition of a Group of Assets

1 Quiz

  • Lesson 1-4 Knowledge Check

Module 1 Graded Activities

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 1 Quiz

Module 2 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 2 Overview and Resources

Lesson 2-1 Overview of the Acquisition Method

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Overview of the Acquisition Method

1 Quiz

  • Lesson 2-1 Knowledge Check

Lesson 2-2 Goodwill Equation

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Goodwill Equation

1 Quiz

  • Lesson 2-2 Knowledge Check

Lesson 2-3 Consolidated Financial Statements on the Business Combination Date

    • 2 Videos
    • 1 Quiz
Show info about module content

2 Videos

  • Consolidated Financial Statements on the Business Combination Date – Part 1
  • Consolidated Financial Statements on the Business Combination Date – Part 2

1 Quiz

  • Lesson 2-3 Knowledge Check

Module 2 Graded Activities

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 2 Quiz

Module 3 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 3 Overview and Resources

Lesson 3-1 Share-Based Payment Awards

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Share-Based Payment Awards

1 Quiz

  • Lesson 3-1 Knowledge Check

Lesson 3-2 Express Scripts and Medco Merger

    • 1 Videos
Show info about module content

1 Videos

  • Express Scripts and Medco Merger

Lesson 3-3 Contingent Consideration

    • 2 Videos
    • 1 Quiz
Show info about module content

2 Videos

  • Contingent Consideration – Part 1
  • Contingent Consideration – Part 2

1 Quiz

  • Lesson 3-3 Knowledge Check

Module 3 Graded Activities

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 3 Quiz

Module 4 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 4 Overview and Resources

Lesson 4-1 Identifiable Assets Acquired

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Identifiable Assets Acquired

1 Quiz

  • Lesson 4-1 Knowledge Check

Lesson 4-2 Intangible Assets Other than Goodwill

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Intangible Assets Other Than Goodwill

1 Quiz

  • Lesson 4-2 Knowledge Check

Lesson 4-3 Defensive Asset and In-Process Research and Development (IPR&D)

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Defensive Asset and In-Process Research and Development (IPR&D)

1 Quiz

  • Lesson 4-3 Knowledge Check

Lesson 4-4 Deferred Taxes on the Acquisition Date

    • 2 Videos
    • 1 Quiz
Show info about module content

2 Videos

  • Deferred Taxes on the Acquisition Date – Part 1
  • Deferred Taxes on the Acquisition Date – Part 2

1 Quiz

  • Lesson 4-4 Knowledge Check

Module 4 Graded Activities

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 4 Quiz

Module 5 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 5 Overview and Resources

Lesson 5-1 Accounting Acquisition Premium (AAP)

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Accounting Acquisition Premium (AAP)

1 Quiz

  • Lesson 5-1 Knowledge Check

Lesson 5-2 The Effect of AAP on Consolidated Financial Statements

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • The Effect of AAP on Consolidated Financial Statements

1 Quiz

  • Lesson 5-2 Knowledge Check

Lesson 5-3 Consolidated Financial Statements with AAP

    • 2 Videos
    • 1 Quiz
Show info about module content

2 Videos

  • Consolidated Financial Statements with AAP – Part 1
  • Consolidated Financial Statements with AAP – Part 2

1 Quiz

  • Lesson 5-3 Knowledge Check

Lesson 5-4 Intercompany Inventory Transactions

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Intercompany Inventory Transactions

1 Quiz

  • Lesson 5-4 Knowledge Check

Module 5 Graded Activities

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 5 Quiz

Module 6 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 6 Overview and Resources

Lesson 6-1 Intercompany Transactions with Depreciable Assets

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Intercompany Transactions with Depreciable Assets

1 Quiz

  • Lesson 6-1 Knowledge Check

Lesson 6-2 Intercompany Debt

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Intercompany Debt

1 Quiz

  • Lesson 6-2 Knowledge Check

Lesson 6-3 Noncontrolling Interest (NCI)

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Noncontrolling Interest (NCI)

1 Quiz

  • Lesson 6-3 Knowledge Check

Lesson 6-4 Net Income Attributable to NCI

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Net Income Attributable to NCI

1 Quiz

  • Lesson 6-4 Knowledge Check

Lesson 6-5 Consolidated Retained Earnings and Subsequent Measurement of NCI

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Consolidated Retained Earnings and Subsequent Measurement of NCI

1 Quiz

  • Lesson 6-5 Knowledge Check

Lesson 6-6 Example of Consolidation with NCI

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Example of Consolidation with NCI

1 Quiz

  • Lesson 6-6 Knowledge Check

Module 6 Graded Activities

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 6 Quiz

Module 7 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 7 Overview and Resources

Lesson 7-1 Business Combination Achieved in Stages

    • 2 Videos
    • 1 Quiz
Show info about module content

2 Videos

  • Business Combination Achieved in Stages – Part 1
  • Business Combination Achieved in Stages – Part 2

1 Quiz

  • Lesson 7-1 Knowledge Check

Lesson 7-2 Deconsolidation

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Deconsolidation

1 Quiz

  • Lesson 7-2 Knowledge Check

Lesson 7-3 Change in the Percentage of Ownership Without Loss of Control

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Change in the Percentage of Ownership without Loss of Control

1 Quiz

  • Lesson 7-3 Knowledge Check

Lesson 7-4 Subsidiary Holds Shares of the Parent

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Subsidiary Holds Shares of the Parent

1 Quiz

  • Lesson 7-4 Knowledge Check

Module 7 Graded Activities

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 7 Quiz

Module 8 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 8 Overview and Resources

Lesson 8-1 Segment Reporting

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Segment Reporting

1 Quiz

  • Lesson 8-1 Knowledge Check

Lesson 8-2 Entity-Wide Disclosure

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Entity-Wide Disclosure

1 Quiz

  • Lesson 8-2 Knowledge Check

Lesson 8-3 Goodwill Impairment Test – Identification of the Reporting Units

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Goodwill Impairment Test – Identification of the Reporting Units

1 Quiz

  • Lesson 8-3 Knowledge Check

Lesson 8-4 Goodwill Impairment Test – Qualitative Assessment

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Goodwill Impairment Test – Qualitative Assessment

1 Quiz

  • Lesson 8-4 Knowledge Check

Lesson 8-5 One-Step Quantitative Goodwill Impairment Test

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • One-Step Quantitative Goodwill Impairment Test

1 Quiz

  • Lesson 8-5 Knowledge Check

Lesson 8-6 Goodwill Impairment Test Under IFRS

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Goodwill Impairment Test Under IFRS

1 Quiz

  • Lesson 8-6 Knowledge Check

Lesson 8-7 Private Companies Accounting for Goodwill

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Private Companies Accounting for Goodwill

1 Quiz

  • Lesson 8-7 Knowledge Check

Module 8 Graded Activities

    • 2 Readings
    • 1 Quiz
    • 1 Plugin
Show info about module content

2 Readings

  • Congratulations on completing the course!
  • Get Your Course Certificate

1 Quiz

  • Module 8 Quiz

Auto Summary

Elevate your financial acumen with our "Advanced Financial Reporting: Accounting for Business Combinations and Preparation of Consolidated Financial Statements" course. Tailored for professionals in the Business & Management domain, this expert-level course delves into the complexities of accounting for business combinations (ASC 805) and the meticulous preparation of consolidated financial statements (ASC 810). Guided by industry-leading instructors from Coursera, you'll embark on a comprehensive journey through key topics such as step-by-step acquisition processes, deconsolidation, segment reporting, and conducting goodwill impairment tests. The curriculum begins with a detailed exploration of ASC 805's scope, distinguishing between business combinations and asset acquisitions. You'll then master the acquisition method's measurement and recognition principles, followed by an in-depth study of the consolidation process to skillfully prepare and adjust consolidated financial statements. Spanning approximately 1500 minutes of immersive content, this course is accessible through a Starter subscription, making it an ideal investment for seasoned financial professionals looking to refine their expertise and navigate the intricacies of advanced financial reporting with confidence.

Michael Kustanovich, CPA
Instructor

Michael Kustanovich, CPA