Advanced Accounting
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A company's financial statements tell the story of that business, but as
with any good book, they can be understood on several levels. In
your role as a literary critic you need to have an understanding not only of
the terminology but also the impact of the subjects normally seen as the
domain of an accountant. This course examines the recognition and
measurement of issues fundamental to really understanding how commerce
and accounting interact. This will enable you to become the 'story
teller'.
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Anyone who already has a grasp of the basics of financial statements
interpretation, and would now like to move to the next level looking at
issues that are prevalent in the commercial world.
In addition to your class tuition and study materials, you will receive the
following:
Complimentary e-learning module Case Study
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Review of published financial statements to focus on the impact of
associates
Exercises
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Calculate the impact of different treatments on distributable profits
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Identify when subsidiary status applies
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Calculate the impact of different group account methodologies
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Identify related parties
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Valuing goodwill on acquisition of a business
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Putting numbers into theory
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Calculate the impact on report profit
Other Extras
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Certificate of attendance
Intangibles
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Purchased and internally generated goodwill
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Positive and negative goodwill
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Brands
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Patents, franchises etc.
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Capitalised and development expenditure
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Subsidiaries and quasi-subsidiaries
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Single entity concept
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Consolidated financial statements - the basics
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Intra-company trading
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Intra-group dividends
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Mixed and vertical groups
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Associated compared to joint ventures and joint arrangements
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The significance of not being part of the single entity
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Contrasting legal and accounting requirements
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Seriously prejudicial exclusions
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What is a reportable segment?
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Spotting related parties
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Presumed and deemed related parties
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Two way materiality
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Value is irrelevant
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Helpful disclosure
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Comparison of methodologies
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Basic principles
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Comparison with international rules
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Application to long term contract accounting
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Why defined benefit schemes cause an accounting problem
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How international accounting treatment might provide a solution
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Applying the concept of matching