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Steven R. Cox, Ph.D.

Advanced Financial Accounting
Indiana University Kokomo
Dr. Steve Cox
Fall 2009

COURSE SYLLABUS (print friendly version)


Mondays 5:30 - 6:45 and 75 minutes of online activity per week


KO 106

Office Hours

10:45 - 11:25 Monday and Wednesday

4:00 - 5:25 Monday

(and by appointment or walk-in)


KO 174J

Office Phone

(765) 455-9314 

Mobile Phone

(317) 696-0571 



Web Page


Required Text

Fischer, Taylor, and Cheng, Advanced Accounting, Tenth Edition

Prerequisite Passing grade in BUS – A312, Intermediate Accounting II*

*    If a student is found to be without the required prerequisite, he or she will be administratively withdrawn at any point in the semester.

The learning scope of this course is to enable students to have an understanding of business combinations, partnerships, not-for-profit organizations, and multinational accounting. Major emphasis is placed on accounting for consolidation and not-for-profit organizations.


At the completion of this class, the student should be able to:

  • Create the basic consolidation productions, both at acquisition and subsequently.
  • Use the cost and equity method of maintaining investment accounts.
  • Perform common inter-company transactions and the elimination process in consolidations.
  • Identify differences in accounting between countries and the harmonization of accounting standards.
  • Restate the translation and re-measurement principles necessary to account for investment in foreign entities.
  • Use not-for-profit accounting principles as applied to state and local governmental units.
  • Account for the formation of partnerships and allocation of partnership profit and loss.

The School of Business Web Page with Mission Statement



Exam 1

120 pts

Exam 2

100 pts

Exam 3

  80 pts

Monday Attendance and Participation

50 pts

Wednesday Online Participation

50 pts

Total Points

400 pts

Grading Scale

96% - 100%


90% - 96%


89% - 90%


86% - 89%


80% - 86%


79% - 80%


76% - 79%


70% - 76%


69% - 70%


66% - 69%


60% - 66%


59% - 60%


Below 59%






Unexcused absences will result in zeros on exams. The first exam will be in class on October 5th. The second exam will be in class on November 9th. The third exam will be in class on December 16th.      

Monday Participation and Attendance
Attendance at each of the thirteen (non-exam) Monday classes is class is worth two points for total of 39 points. The remaining 11 points will be based on my subjective appraisal of your participation. 

Wednesday Participation
Completing the online publisher’s quiz for each chapter is worth one point for a total of 11 points. Participation at each of the thirteen (non-exam week) Wednesday (online) classes is worth a total of 39 points. It is essential to attend the Monday classes when specific responsibilities regarding the next online class will be discussed. Postings on the Oncourse forums will be evaluated based on the whether the student’s contribution is insightful, timely, and complete.

Publisher Web Site
The publisher’s web site has an interactive quiz for each chapter as well as check figures for selected problems. The web site is best found through this site:


Computer Usage      
This syllabus and other information are available on my web site. IUK also offers a variety of computer resources for course assignments and projects (e.g., word processing, spreadsheets, presentation software, database management, and statistical analysis packages). 

Library Usage
The IUK library system offers a large number and variety of resources for the student to use in this course.  Examples include current newspapers (Wall Street Journal), magazines (Business Week), databases (ABI Inform), and access to the Internet.

Disability Issues
Indiana University Kokomo provides equal access and support services to students with special needs.  Students with documented disabilities should contact the Career Services Office (455-9301) and discuss any necessary support services or accommodation with the instructor. 

Class Schedule





1 Business Combinations U1, U3, U4, U6
E1, E2, E4, E6, E9
P1, P2, P3
Aug. 24, 26, 31
2 Consolidated Statements:
Date of Acquisition
U1, U2, U3, U4, U5
E1, E2, E3, E4, E5, E6, E7
P1, P2, P5             
Sep. 2, 9, 14
3 Consolidated Statements:
Subsequent to Acquisitions
U1, U2, U3, U4, U5, U6, U7
E1, E2, E3, E4, E7, E8
P2, P4
Sep. 16, 21, 23
4 Intercompany Transactions: Merchandise, Plant Assets, and Notes U1, U2, U3, U4, U5
E1, E2, E3, E4, E5, E9
Sep. 28, 30

 Exam 1

Oct. 5 (test), Oct. 7 (results)
9 The International Accounting Environment Web Content Oct. 12, 14
10 Foreign Currency Transactions U1, U2, U3, U4
E1, E2, E3, E4, E5
Oct. 19, 21
13 Partnerships: Characterizations, Formation and Accounting for Activities U1, U2, U3, U4
E1, E2, E3, E4, E5, E6, E7
P1, P2, P3, P4, P5
Oct. 26, 28
14 Partnerships: Ownership Changes and Liquidations E1, E2, E3, E4, E5, E11
Nov. 2, Nov. 4

Exam 2

Nov. 9 (test), Nov. 11 (results)
15 Governmental Accounting: The General Fund and Account Groups U2, U3, U4, U5, U6
E1, E2, E3, E4, E5, E6, E7
Nov. 16, 18
16 Governmental Accounting: Other Funds U2, U3, U4, U5, U8, U9, U10, U11, U12
E1, E2, E3,
Nov. 23, 30
18 Accounting for Not-for-Profit Organizations
Achievement Test
U1, U2, U3, U4, U5
Dec. 2, Dec. 7, Dec. 9

Exam 3

Dec. 16