- NY Credits : 8.0
- TX Credits : 8.0
This interactive self-study course looks at two issues related to the preparation of a company's financial statements. Lesson 1 discusses business combinations, consolidations, and controlling financial interests. Lesson 2 examines how to apply the last-in, first-out (LIFO) method to inventory costs.
Course Expiration Date: December 31, 2019
Please note, the grading fee for answer sheets submitted by regular mail is $105.
Identify how reporting entities should incorporate the financial results of another entity into their financial statements.
Recognize how to address issues related to controlling financial interests, including acquisition, fair value measurements, and accounting for changes.
Determine when a company needs to consolidate a variable interest entity.
Recognize the best presentation for consolidated financial statements, as well as consolidating and combined financial statements.
Determine the best approaches for using LIFO, including how to make LIFO computations, how to adopt LIFO, understanding the lower of cost or market requirements, and how to apply LIFO in interim financial statements.
Lesson 1—Business Combinations, Consolidations, and Controlling Financial Interests
Lesson 2—Applying LIFO