NOT IN USE - Custom ACC305-306 Advanced Accounting I and II (Carroll University)

by Hamlen

ISBN: 0000000000 | Copyright 2022

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Advanced Accounting, 4e (pg. 1.iii)
Preface (pg. 1.iii)
Brief Contents (pg. 1.xii)
Contents (pg. 1.xiii)
Chapter 1: Intercorporate Investments: An Overview (pg. 1.2)
Introduction (pg. 1.3)
Motivations for Intercorporate Investments (pg. 1.3)
Types of Investments (pg. 1.4)
Intercorporate Debt Investments and Equity Investments with No Significant Influence (pg. 1.5)
Trading Investments (pg. 1.5)
Available-for-Sale Investments (pg. 1.6)
Held-to-Maturity Investments (pg. 1.7)
Equity Investments (pg. 1.8)
Review 1 • Trading, AFS, and HTM Debt Investments (pg. 1.9)
Investments with Significant Influence (pg. 1.9)
Accounting Using the Equity Method (pg. 1.9)
Equity in Net Income Calculation (pg. 1.10)
Other Comprehensive Income and the Equity Method (pg. 1.12)
Investee Losses and the Equity Method (pg. 1.12)
Impairment Testing (pg. 1.12)
Change to Significant Influence (pg. 1.13)
Joint Ventures (pg. 1.13)
Review 2 • Reporting for Equity Method Investments (pg. 1.14)
Controlling Investments (pg. 1.15)
Mergers, Consolidations, and Asset Acquisitions (pg. 1.15)
Stock Acquisitions (pg. 1.16)
Change to Controlling Interest (pg. 1.16)
Variable Interest Entities (pg. 1.17)
International Financial Reporting Standards For Intercorporate Investments (pg. 1.17)
Intercorporate Debt Investments and Equity Investments with No Significant Influence (pg. 1.17)
Investments with Significant Influence (pg. 1.18)
Joint Ventures (pg. 1.18)
Controlling Investments (pg. 1.19)
Review of Key Concepts (pg. 1.19)
Multiple Choice Questions (pg. 1.20)
Exercises (pg. 1.22)
Problems (pg. 1.26)
Review Solutions (pg. 1.34)
Chapter 2: Mergers and Acquisitions (pg. 1.36)
Introduction (pg. 1.37)
Motivations for Mergers and Acquisitions (pg. 1.37)
Types of Combinations (pg. 1.38)
Overview of Reporting for Combinations (pg. 1.39)
Standards of Reporting for Business Combinations (pg. 1.41)
Valuation of Assets Acquired and Liabilities Assumed (pg. 1.43)
Acquisition Date (pg. 1.43)
Identifying the Acquiring Company (pg. 1.43)
Measurement of Previously Reported Assets and Liabilities (pg. 1.44)
Identification and Measurement of Previously Unreported Intangibles (pg. 1.45)
Illustration of Reporting Assets Acquired and Liabilities Assumed (pg. 1.49)
Review 1 • Reporting Assets Acquired and Liabilities Assumed (pg. 1.51)
Measurement of Acquisition Cost (pg. 1.51)
Contingent Consideration (pg. 1.52)
Employee Compensation (pg. 1.53)
Acquisition-Related Costs (pg. 1.53)
Illustration of Reporting Consideration Given in an Acquisition (pg. 1.54)
Subsequent Changes in Asset, Liability, or Contingent Consideration Values (pg. 1.55)
Measurement Period (pg. 1.55)
Reporting Subsequent Changes in Asset and Liability Values (pg. 1.55)
Reporting Subsequent Changes in Contingent Consideration Value (pg. 1.56)
Review 2 • Reporting Assets and Liabilities Acquired, Consideration Paid, and Subsequent Events (pg. 1.57)
Bargain Purchases (pg. 1.57)
Special Issues: In-Process Research And Development, Preacquisition Contingencies, Deferred Tax Liabilities, And Step Acquisitions (pg. 1.59)
In-Process Research and Development (pg. 1.59)
Preacquisition Contingencies (pg. 1.59)
Acquired Deferred Tax Liabilities (pg. 1.60)
Step Acquisitions (pg. 1.61)
International Financial Reporting Standards for Business Combinations (pg. 1.62)
Review of Key Concepts (pg. 1.63)
Multiple Choice Questions (pg. 1.64)
Exercises (pg. 1.65)
Problems (pg. 1.72)
Review Solutions (pg. 1.83)
Chapter 3: Consolidated Financial Statements: Date of Acquisition (pg. 1.84)
Introduction (pg. 1.85)
Criteria for Consolidation (pg. 1.86)
Motivations for Off-Balance-Sheet Entities (pg. 1.86)
Standards for Consolidation (pg. 1.88)
Control and Consolidation of Equity Investments (pg. 1.88)
Control and Consolidation of Non-Equity Investments (pg. 1.89)
Review 1 • Identifying Consolidated Entities (pg. 1.94)
Consolidation at Date of Acquisition (pg. 1.94)
Consolidation of Financial Statements: Preliminary Issues (pg. 1.94)
Objectives of Consolidation (pg. 1.95)
Consolidation Working Paper (pg. 1.95)
Pushdown Accounting (pg. 1.103)
Review 2 • Consolidation with Identifiable Intangibles (pg. 1.106)
International Financial Reporting Standards for ConsolidationS (pg. 1.106)
The Concept of Control (pg. 1.106)
IFRS and U.S. GAAP Compared (pg. 1.107)
Review of Key Concepts (pg. 1.108)
Multiple Choice Questions (pg. 1.108)
Exercises (pg. 1.110)
Problems (pg. 1.117)
Review Solutions (pg. 1.127)
Chapter 4: Consolidated Financial Statements Subsequent to Acquisition (pg. 1.128)
Introduction (pg. 1.129)
Introduction to Consolidation Procedures (pg. 1.129)
Consolidation Eliminating Entries (pg. 1.130)
Illustration of Consolidation Process (pg. 1.131)
Consolidated Financial Statements (pg. 1.133)
Complete Equity Method as One-Line Consolidation (pg. 1.134)
Reporting Revaluations of Subsidiary Assets and Liabilities in Subsequent Years (pg. 1.135)
Previously Reported Assets and Liabilities (pg. 1.135)
Previously Unreported Identifiable Intangibles (pg. 1.137)
Goodwill (pg. 1.138)
Amortization and Impairment of Identifiable Intangibles and Goodwill: An Illustration (pg. 1.143)
Review 1 • Intangibles Impairment Testing (pg. 1.145)
Comprehensive Illustration: Consolidation in Subsequent Years (pg. 1.146)
Consolidation After One Year (pg. 1.146)
Consolidation After Two Years (pg. 1.149)
Review 2 • Consolidation in a Subsequent Year with Identifiable Intangibles (pg. 1.153)
IFRS for Acquired Intangibles (pg. 1.154)
Identifiable Intangibles (pg. 1.154)
Goodwill (pg. 1.155)
 Appendix to Chapter 4 (pg. 1.157)
Consolidation Eliminating Entries When the Parent Uses the Cost Method (pg. 1.157)
Review of Key Concepts (pg. 1.162)
Multiple Choice Questions (pg. 1.163)
Exercises (pg. 1.165)
Problems (pg. 1.172)
Review Solutions (pg. 1.184)
Chapter 5: Consolidated Financial Statements: Outside Interests (pg. 1.186)
Introduction (pg. 1.187)
Noncontrolling Interests at Acquisition Date (pg. 1.188)
Valuation of Noncontrolling Interests and Goodwill at Acquisition (pg. 1.188)
Measuring the Fair Value of Noncontrolling Interests (pg. 1.189)
Consolidation Eliminating Entries at Acquisition Date (pg. 1.190)
Noncontrolling Interests in the Consolidated Balance Sheet (pg. 1.191)
Consolidating Variable Interest Entities (pg. 1.192)
Noncontrolling Interests in Subsequent Years (pg. 1.193)
Consolidation at End of the First Year (pg. 1.193)
Noncontrolling Interests in the Consolidated Statement of Income and Comprehensive Income (pg. 1.196)
Consolidation at End of the Second Year (pg. 1.198)
Consolidation of VIEs in Subsequent Years (pg. 1.201)
Review 1 • Consolidation with Noncontrolling Interest at End of Third Year, U.S. GAAP (pg. 1.204)
Noncontrolling Interests and Bargain Purchases (pg. 1.204)
Bargain Purchase Consolidation at Date of Acquisition (pg. 1.205)
Bargain Purchase Consolidation at End of the First Year (pg. 1.206)
Bargain Purchase Consolidation at End of the Second Year (pg. 1.208)
International Financial Reporting Standards for Noncontrolling Interests (pg. 1.209)
Review 2 • Consolidation with Noncontrolling Interest at End of the Third Year, IFRS (pg. 1.213)
Consolidated Statement of Cash Flows (pg. 1.213)
Preparation of Consolidated Statement of Cash Flows (pg. 1.214)
Consolidated Statement of Cash Flows: An Illustration (pg. 1.214)
Review of Key Concepts (pg. 1.216)
Multiple Choice Questions (pg. 1.217)
Exercises (pg. 1.219)
Problems (pg. 1.226)
Review Solutions (pg. 1.239)
Chapter 6: Consolidated Financial Statements: Intercompany Transactions (pg. 1.242)
Introduction (pg. 1.243)
 Intercompany Service and Financing Transactions (pg. 1.244)
 Intercompany Profits (pg. 1.245)
Equity in Net Income and Noncontrolling Interest in Net Income (pg. 1.246)
 Intercompany Transfers of Land (pg. 1.247)
Eliminations in the Year of Transfer (pg. 1.247)
Eliminations in Subsequent Years (pg. 1.248)
Eliminations in Year of Sale to Outside Party (pg. 1.251)
 Intercompany Transfers of Inventory (pg. 1.251)
Unconfirmed Profit in Ending Inventory (pg. 1.253)
Unconfirmed Profit in Beginning Inventory (pg. 1.254)
Review 1 • Intercompany Eliminations: Land and Merchandise Transfers (pg. 1.256)
 Intercompany Transfers of Depreciable Assets (pg. 1.256)
Objectives of the Eliminations (pg. 1.257)
Eliminations in Year of Transfer (pg. 1.257)
Eliminations in Subsequent Years (pg. 1.258)
Eliminations in Year of Sale to Outside Party (pg. 1.260)
Review 2 • Intercompany Eliminations: Depreciable Asset Transfers (pg. 1.261)
 International Financial Reporting Standards for Intercompany Transactions (pg. 1.261)
 Comprehensive Illustration (pg. 1.262)
Review of Key Concepts (pg. 1.267)
Multiple Choice Questions (pg. 1.268)
Exercises (pg. 1.270)
Problems (pg. 1.276)
Review Solutions (pg. 1.288)
Chapter 7: Consolidating Foreign Currency Financial Statements (pg. 1.290)
Introduction (pg. 1.291)
 Converting a Subsidiary’s Foreign Currency Accounts to the Parent’s Currency (pg. 1.291)
The Conversion Process (pg. 1.292)
The Functional Currency (pg. 1.294)
 Translation and Remeasurement Procedures (pg. 1.295)
Translation Procedures (pg. 1.295)
Remeasurement Procedures (pg. 1.296)
Comparing Translation and Remeasurement (pg. 1.296)
Translation and Remeasurement Gains and Losses (pg. 1.296)
Translation and Remeasurement Illustrated (pg. 1.302)
Review 1 • Calculation of Remeasurement and Translation Gain or Loss (pg. 1.304)
Review 2 • Translation and Remeasurement of Foreign Currency Financial Statements (pg. 1.305)
Highly Inflationary Economies (pg. 1.306)
Changing the Functional Currency (pg. 1.307)
Translation and Remeasurement of an Existing Entity (pg. 1.307)
Converting the Statement of Cash Flows to the Reporting Currency (pg. 1.311)
Disclosures (pg. 1.311)
 Financial Analysis Using Translated and Remeasured Information (pg. 1.313)
Effects on Profitability: The “DuPont Analysis” (pg. 1.313)
Effects on Analysis of Short-Term Liquidity and Long-Term Solvency (pg. 1.314)
 Consolidation of international Subsidiaries (pg. 1.315)
Equity Method Reporting (pg. 1.315)
The Consolidation Process (pg. 1.316)
Review 3 • Consolidation of an International Subsidiary (pg. 1.320)
 IFRS for Translating and Consolidating Foreign Currency Financial Statements (pg. 1.320)
Translation and Remeasurement (pg. 1.320)
Subsidiaries in Hyperinflationary Economies (pg. 1.320)
Review of Key Concepts (pg. 1.322)
Multiple Choice Questions (pg. 1.322)
Exercises (pg. 1.324)
Problems (pg. 1.331)
Review Solutions (pg. 1.342)
Chapter 8: Foreign Currency Transactions and Hedging (pg. 1.346)
 Foreign Currency Transactions and Risk (pg. 1.347)
 Foreign Currency Transactions (pg. 1.348)
Import and Export Transactions (pg. 1.348)
Review 1 • Foreign-Currency-Denominated Import and Export Transactions (pg. 1.352)
Foreign Borrowing and Lending Transactions (pg. 1.352)
 Hedging Foreign Exchange Exposures (pg. 1.353)
Types of Foreign Exchange Risk (pg. 1.353)
Derivative Instruments Used in Hedging (pg. 1.354)
Reporting Investments in Foreign Currency Derivatives (pg. 1.356)
Review 2 • Using Forward Contracts to Hedge Foreign-Currency-Denominated Import Transactions (pg. 1.362)
Review 3 • Using Forward Contracts to Hedge Foreign-Currency-Denominated Firm Commitments (pg. 1.367)
Review 4 • Using Forward Contracts to Hedge Foreign-Currency-Denominated Forecasted Transactions (pg. 1.369)
Improvements in Hedge Accounting Requirements (pg. 1.374)
 International Financial Reporting Standards for Foreign Currency Transactions and Hedging (pg. 1.375)
Qualifications for Hedge Accounting (pg. 1.375)
Comparison of IFRS and U.S. GAAP Hedge Accounting (pg. 1.376)
Financial Instruments Disclosures (pg. 1.378)
Review of Key Concepts (pg. 1.378)
Multiple Choice Questions (pg. 1.379)
Exercises (pg. 1.381)
Problems (pg. 1.386)
Review Solutions (pg. 1.393)
Chapter 9: Futures, Options and Interest Rate Swaps (pg. 1.396)
 Derivatives and Hedge Accounting (pg. 1.397)
Accounting for Derivatives and Hedging Transactions (pg. 1.398)
Hedge Accounting Qualifications (pg. 1.398)
2017 FASB Accounting Standards Update (pg. 1.400)
 Futures Contracts (pg. 1.400)
Introduction to Futures Contracts (pg. 1.401)
Transacting in Futures Contracts (pg. 1.401)
Accounting Events in Futures Trading (pg. 1.402)
T-Account Analysis of Futures Contracts (pg. 1.402)
Illustrations of Accounting for Futures Contracts (pg. 1.403)
Review 1 • Accounting for Futures Contracts (pg. 1.407)
 Option Contracts (pg. 1.407)
Definitions
 (pg. 1.407)
Effects of Price Changes of Optioned Items (pg. 1.408)
Accounting Events in Options Trading (pg. 1.408)
Illustrations of Accounting for Options (pg. 1.409)
Review 2 • Accounting for Option Contracts (pg. 1.413)
 Interest Rate Swaps (pg. 1.414)
Accounting for Interest Rate Swaps (pg. 1.415)
Assessing Hedge Effectiveness (pg. 1.416)
Accounting Events and Entries for Interest Rate Swaps (pg. 1.417)
Review 3 • Accounting for Interest Rate Swaps (pg. 1.419)
 Disclosure Requirements (pg. 1.420)
Derivatives and Hedging Disclosures (pg. 1.420)
 Derivatives and Hedging Under IFRS (pg. 1.422)
IFRS 9 Hedge Accounting Requirements (pg. 1.422)
Review of Key Concepts (pg. 1.423)
Multiple Choice Questions (pg. 1.423)
Exercises (pg. 1.425)
Problems (pg. 1.429)
Review Solutions (pg. 1.434)
Chapter 10: State and Local Governments: Introduction and General Fund Transactions (pg. 1.438)
 Nature of Government Activities (pg. 1.439)
External Users of Governmental Financial Statements (pg. 1.441)
 Sources of GAAP for State and Local Governments (pg. 1.441)
GAAP Hierarchy in Government Accounting (pg. 1.442)
 Objectives of Financial Reporting (pg. 1.442)
Identifying the Reporting Entity (pg. 1.443)
 Fund Structure (pg. 1.444)
Fund Types (pg. 1.446)
Review 1 • Identifying Funds (pg. 1.447)
 Accounting and Reporting By Funds (pg. 1.448)
Accounting for Governmental Funds (pg. 1.448)
Accounting for Proprietary Funds (pg. 1.449)
Accounting for Fiduciary Funds (pg. 1.449)
 Accounting for the General Fund (pg. 1.449)
Budgetary Accounts (pg. 1.451)
Recording Property Tax Revenue (pg. 1.453)
Purchase of Goods and Services (pg. 1.454)
Supplies Inventories (pg. 1.456)
Interfund Transactions (pg. 1.458)
Capital Assets and Long-Term Debt (pg. 1.459)
Closing Entries (pg. 1.460)
Outstanding Encumbrances at Year-End (pg. 1.461)
 Comprehensive Illustration of General Fund Accounting and Reporting (pg. 1.463)
Transactions During the Year (pg. 1.463)
Closing Entries (pg. 1.466)
Financial Statements (pg. 1.467)
Review 2 • General Fund Budget and Closing Entries, Financial Statements (pg. 1.470)
Review of Key Concepts (pg. 1.470)
Multiple Choice Questions (pg. 1.471)
Exercises (pg. 1.473)
Problems (pg. 1.479)
Review Solutions (pg. 1.491)
Chapter 11: State and Local Governments: Other Transactions (pg. 1.494)
 Accounting for Special Purpose Activities (pg. 1.496)
Special Revenue Funds (pg. 1.496)
Permanent Funds (pg. 1.496)
 Accounting for Capital Projects (pg. 1.498)
Capital Projects (pg. 1.498)
Accounting for the Capital Projects Fund (pg. 1.499)
 Accounting for General Obligation Debt (pg. 1.504)
General Obligation Debt (pg. 1.505)
Accounting for the Debt Service Fund (pg. 1.505)
Review 1 • Capital Projects and Debt Service Fund Transactions and Financial Statements (pg. 1.508)
 Accounting for Proprietary Activities (pg. 1.509)
Accounting for Enterprise and Internal Service Funds (pg. 1.509)
Review 2 • Enterprise Fund Transactions and Financial Statements (pg. 1.513)
 Accounting for Fiduciary Activities (pg. 1.513)
Accounting for Fiduciary Funds (pg. 1.514)
 Accounting for Investments (pg. 1.517)
Derivatives Investments (pg. 1.518)
 Accounting for Other Liabilities and Debt Refundings (pg. 1.520)
Compensated Absences (pg. 1.520)
Landfills and Asset Retirement Obligations (pg. 1.520)
Accounting for Leased Assets (pg. 1.522)
Debt Refundings (pg. 1.523)
Review of Key Concepts (pg. 1.524)
Multiple Choice Questions (pg. 1.525)
Exercises (pg. 1.527)
Problems (pg. 1.531)
Review Solutions (pg. 1.542)
Chapter 12: State and Local Governments: External Financial Reporting (pg. 1.546)
 External Reporting Model (pg. 1.547)
Management’s Discussion and Analysis (pg. 1.548)
 Government-Wide Financial Statements (pg. 1.549)
Statement of Net Position (pg. 1.549)
Statement of Activities (pg. 1.550)
Discussion of Government-Wide Statements (pg. 1.550)
Review 1 • Prepare a Statement of Activities (pg. 1.553)
 Fund Financial Statements (pg. 1.553)
Major Funds (pg. 1.554)
Governmental Funds Financial Statements (pg. 1.554)
Financial Reporting Model Improvements (pg. 1.561)
Review 2 • Reconcile the Change in Fund Balances to Change in Net Position (pg. 1.561)
Proprietary Funds Financial Statements (pg. 1.562)
Fiduciary Funds Financial Statements (pg. 1.566)
 Comparison of Government-Wide and Funds Information (pg. 1.567)
Governmental Activities (pg. 1.567)
Business-Type Activities (pg. 1.568)
 Notes and Required Supplementary Information (pg. 1.569)
Budgetary Comparison Schedules (pg. 1.569)
 Capital Assets, Infrastructure, Investments, and Defined Benefit Pension Plans (pg. 1.571)
Capital Assets and Infrastructure (pg. 1.571)
Investments (pg. 1.571)
Defined Benefit Pension Plans (pg. 1.572)
Review of Key Concepts (pg. 1.573)
Multiple Choice Questions (pg. 1.574)
Exercises (pg. 1.576)
Problems (pg. 1.583)
Review Solutions (pg. 1.591)
Chapter 13: Private Not-For-Profit Organizations (pg. 1.592)
 Characteristics of Private Not-For-Profit (NFP) Organizations (pg. 1.593)
 NFP Reporting Environment (pg. 1.594)
External Financial Reporting Requirements: General Concepts (pg. 1.594)
Presentation of Financial Statements (pg. 1.596)
Statement of Financial Position (pg. 1.596)
Statement of Activities (pg. 1.597)
Statement of Cash Flows (pg. 1.601)
Liquidity Disclosures (pg. 1.602)
 Accounting for Contributions Received (pg. 1.603)
Unconditional and Unrestricted Cash Contributions (pg. 1.603)
Unconditional and Unrestricted Contributions of Goods and Services (pg. 1.603)
Donor-Imposed Time and Use Restrictions (pg. 1.605)
Donor-Imposed Conditions (pg. 1.607)
Donor-Imposed Restrictions in Perpetuity (pg. 1.607)
Contributions of Long-Lived Assets (pg. 1.608)
Split-Interest Agreements (pg. 1.609)
Contributions Received on Behalf of Others (pg. 1.610)
Review 1 • Accounting for Contributions (pg. 1.611)
 Accounting for Investments (pg. 1.611)
Review 2 • Reporting for Investments (pg. 1.612)
 Comprehensive Illustration of NFP Accounting: Northeastern Heart Society (pg. 1.613)
 Reporting Issues for Specific Not-For-Profit Organizations (pg. 1.618)
Voluntary Health and Welfare Organizations (pg. 1.618)
Colleges and Universities (pg. 1.619)
Health Care Organizations (pg. 1.619)
Review of Key Concepts (pg. 1.621)
Multiple Choice Questions (pg. 1.622)
Exercises (pg. 1.624)
Problems (pg. 1.628)
Review Solutions (pg. 1.640)
Chapter 14: Partnership Accounting and Reporting (pg. 1.642)
Introduction (pg. 1.643)
 Characteristics of a Partnership (pg. 1.643)
Relations of Partners to Others (pg. 1.644)
Relations Among Partners (pg. 1.644)
Partners’ Property Rights (pg. 1.645)
Contractual Provisions: The Partnership Agreement (pg. 1.645)
Limited Partnerships (pg. 1.645)
Comparison of Corporate and Partnership Forms of Organization (pg. 1.646)
Partnership Reporting Issues (pg. 1.647)
 Formation of the Partnership (pg. 1.649)
Bonus and Goodwill Approaches (pg. 1.649)
Review 1 • Formation of a Partnership (pg. 1.650)
 Allocation of Partnership Income to PartnerS (pg. 1.650)
Salaries to Partners (pg. 1.651)
Bonus to Partners (pg. 1.651)
Interest on Partners’ Capital Accounts (pg. 1.652)
Percentage Allocation by Income-Sharing Ratio (pg. 1.652)
Comprehensive Illustration of Partnership Income Allocation (pg. 1.652)
Schedule of Changes in Capital Accounts (pg. 1.653)
Review 2 • Income Allocation (pg. 1.654)
 Admission of a New Partner (pg. 1.654)
Admission by Purchase of an Existing Partnership Interest (pg. 1.654)
Admission by Investment of New Capital (pg. 1.656)
Effects of Bonus and Goodwill Methods on Partners’ Capital (pg. 1.659)
Evaluation of Bonus and Goodwill Methods (pg. 1.659)
 Retirement of a Partner (pg. 1.660)
Purchase with Personal Assets (pg. 1.660)
Purchase with Partnership Assets (pg. 1.660)
Review 3 • Retirement of a Partner and Admission of a New Partner (pg. 1.663)
 Partnership Liquidations (pg. 1.663)
Priorities for Payments (pg. 1.663)
Rights of Creditors (pg. 1.664)
Simple Versus Installment Liquidations (pg. 1.665)
Simple Liquidations (pg. 1.665)
Installment Liquidations (pg. 1.667)
Review 4 • Termination of the Partnership (pg. 1.677)
Review of Key Concepts (pg. 1.677)
Multiple Choice Questions (pg. 1.678)
Exercises (pg. 1.680)
Problems (pg. 1.685)
Review Solutions (pg. 1.693)
Chapter 15: Bankruptcy and Reorganization (pg. 1.698)
 Legal Aspects of Bankruptcy (pg. 1.700)
Legal Process of Chapter 7 Liquidation (pg. 1.701)
Legal Process of Chapter 11 Reorganization (pg. 1.701)
 Financial Reporting for Chapter 7 Liquidation (pg. 1.701)
Liquidation Basis of Accounting (pg. 1.701)
Statement of Affairs (pg. 1.704)
Review 1 • Chapter 7 Liquidation (pg. 1.709)
Statement of Realization and Liquidation (pg. 1.709)
 Financial Reporting for Chapter 11 Reorganization (pg. 1.713)
Reporting During the Reorganization Process (pg. 1.713)
Reporting After Reorganization (pg. 1.716)
Review 2 • Chapter 11 Reorganization (pg. 1.721)
 Other Forms of Restructuring (pg. 1.721)
Quasi-Reorganization (pg. 1.721)
Troubled Debt Restructuring (pg. 1.722)
Review of Key Concepts (pg. 1.723)
Multiple Choice Questions (pg. 1.724)
Exercises (pg. 1.726)
Problems (pg. 1.732)
Review Solutions (pg. 1.742)
Chapter 16: The SEC and Financial Reporting (pg. 1.744)
 Establishment of the SEC and Key Securities Legislation (pg. 1.746)
Establishment of the SEC (pg. 1.746)
Securities Legislation and the SEC (pg. 1.746)
Definition of a Security (pg. 1.748)
 Organization and Structure of the SEC (pg. 1.748)
SEC Pronouncements on Accounting and Auditing (pg. 1.750)
Review 1 • Mission and Organization of the SEC (pg. 1.750)
 Registration of New Securities (pg. 1.750)
 Periodic Reporting Requirements (pg. 1.752)
EDGAR (pg. 1.752)
The Annual Report: Form 10-K (pg. 1.752)
Regulation S-X (pg. 1.757)
The Quarterly Report: Form 10-Q (pg. 1.759)
Special Reports: Form 8-K (pg. 1.760)
Review 2 • Registration and Periodic Reporting Requirements (pg. 1.762)
 Corporate Accountability and Governance (pg. 1.762)
Audit Committees (pg. 1.763)
Antifraud Provisions and Insider Trading (pg. 1.763)
Proxy Statements (pg. 1.764)
The Dodd-Frank Act (pg. 1.764)
 The SEC and Accounting Standards (pg. 1.765)
Review 3 • Corporate Accountability and Governance, SEC Intervention in Standard-Setting (pg. 1.766)
Review of Key Concepts (pg. 1.766)
Multiple Choice Questions (pg. 1.767)
Exercises (pg. 1.768)
Problems (pg. 1.773)
Review Solutions (pg. 1.776)
Index (pg. 1.778)
Susan S. Hamlen

Susan S. Hamlen

Susan S. Hamlen is the former Department Chair and Associate Professor of Accounting at the University at Buffalo School of Management. She received her PhD and MS at Purdue University and her BS at the University of California, Berkeley.

Professor Hamlen is the author of Advanced Accounting 4e and previously co-authored 12 editions of advanced accounting texts. She has taught courses in advanced accounting for over twenty-four years and courses in financial accounting for over nine years, at the undegraduate and graduate levels.

Professor Hamlen's research interests are in the area of reporting for financial derivatives and international reporting. She has publications in Journal of Derivatives Accounting, Theoretical Economics Letters, and in other accounting and analysis journals.

Professor Hamlen is an active member of the American Accounting Association and other accounting, analysis, and business organizations.


Advanced Accounting, 4e (Hamlen)
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Last Updated: Mar 31 2020

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Excel Templates - Student
Last Updated: Mar 31 2020

Excel spreadsheets for select assignments are provided on the book’s website. These spreadsheets will save time in data entry and allow students to dedicate additional time to learning the material. The Excel spreadsheets are identified by the Excel icon.

Chapters 1-6 and 10 available. Others coming soon!

Practice Quizzes
Last Updated: Mar 31 2020
Practice Quiz Solutions
Last Updated: Mar 31 2020