advanced accounting 10th ed. - p. fischer, et al., (cengage, 2009)

[...]... purchase method and the pooling-of-interests method The purchase method usually recorded all assets and liabilities of the company acquired at fair value The purchase method was the primary method in use However, under some circumstances, the pooling-of-interests method was allowed The pooling-of-interests method recorded the assets and liabilities of the acquired firm at their existing book values This method... Effect of Lower-of-Cost-or-Market Method on Inventory Profit 207 Losses on Intercompany Sales 208 Intercompany Plant Asset Sales Sale of Entire Investment 377 Investment 380 Subsidiary Preferred Stock 208 Intercompany Sale of a Nondepreciable Asset 209 Intercompany Sale of a Depreciable Asset 210 Intercompany Long-Term Construction Contracts 213 Intercompany Debt Sophisticated Equity Method: Intercompany... 18 Accounting for Private Not-for-Profit Organizations 951 Chapter 19 Accounting for Not-for-Profit Colleges and Universities and Health Care Organizations 991 Special Appendix 2 Equity Method for Unconsolidated Investments 489 Part 2 Multinational Accounting and Other Reporting Concerns Part 5 Fiduciary Accounting Chapter 9 The International Accounting Environment 503 Module Derivatives and Related Accounting. .. pooling-of-interests method brought over the assets and liabilities of the acquired company at existing book values The purchase method brought the acquired company’s assets and liabilities to the acquiring firm’s books at fair market value FASB Statement No 141, issued in July of 2001, ended the use of the pooling method and gave new guidance for recording business combinations under purchase accounting. .. and officer for a number of organizations Rita H Cheng is Professor of Accounting at the University of Wisconsin, Milwaukee She teaches government and not-for-profit accounting and advanced financial accounting She has published numerous journal articles and technical reports and is often asked to speak on government and not-for-profit accounting topics She has been recognized for her teaching excellence... values assigned to net assets The excess of the fair value of the acquiree over the values assigned to net assets is ‘‘new’’ goodwill The goodwill recorded is not amortized, but is impairment tested in future accounting periods Fair value of acquiree is less than fair values assigned to net assets When this occurs, every effort should be made to revalue the amounts assigned to net assets to eliminate... and Basis of Accounting 785 Statement of Financial Accounting Standards No 131 692 Accounting for Partnership Activities 779 Principle 1 Accounting and Reporting Capabilities 819 Principle 2—Fund Accounting System 819 Principle 3—Types of Funds 819 Principle 4—Number of Funds 820 Principle 5—Reporting Capital Assets 820 Principle 6—Valuation of Capital Assets 820 814 818 xxii CONTENTS Accounting for... of Capital Assets 820 814 818 xxii CONTENTS Accounting for Private Not-for-Profit Organizations Principle 7—Depreciation of Capital Assets 820 Principle 8—Reporting Long-Term Liabilities 820 Principle 9—Measurement Focus and Basis of Accounting in the Basic Financial Statements 820 Principle 10—Budgeting, Budgetary Control, and Budgetary Reporting 821 Principle 11—Transfer, Revenue, Expenditure, and... Consolidation 124 Effect of Sophisticated Equity Method on Consolidation Determination of the Method Being Used Complicated Purchase, Several Distributions of Excess Intraperiod Purchase Under the Simple Equity Method Intraperiod Purchase Under the Cost Method Summary: Worksheet Technique Goodwill Impairment Losses Appendix A: The Vertical Worksheet Appendix B: Tax-Related Adjustments 126 128 128 134 136 136... text’s Web site (academic.cengage.com/ accounting/ fischer), this step-by-step tutorial carefully guides students as they learn how to set up worksheets in Excel and apply their consolidations knowledge learned in Chapters 1–6 of the text In addition, Excel working papers for selected text problems are provided to assist students in completing homework These selected end-of-chapter assignments are identified . h1" alt="" Advanced Accounting Paul Marcus Fischer, PhD, CPA Jerry Leer Professor of Accounting University of Wisconsin, Milwaukee William James Taylor, PhD, CPA, CVA Professor Emeritus of Accounting University. demonstrate accounting for fair value hedges and cash flow hedges. ^ New explanations, examples, and end-of-chapter problems have been added to help simplify this complex topic. ^ The more complex complications. Following Chapter 8, a Special Appendix explores accounting for leveraged buyouts. Accounting for equity method investments is located in a new Special Appendix 2, follow- ing the one on leveraged buyouts.