This course focuses on advanced concepts such as subsidiaries, partnerships, intercompany transactions, mergers and acquisitions and consolidations. Topics include consolidation of financial information, Segment and interim reporting, accounting for legal reorganizations and liquidation. The course emphasizes theories and practices related to understanding debt and equity financing, full disclosure in financial reporting, variable interest entities (VIE), foreign currency transactions and hedging foreign exchange risk, translation of foreign currency financial statements, financial reporting and the SEC. The course also provides preliminary introduction of accounting for government and non-profit entities as well as Estates and Trusts. Prerequisite: ACCT 311. Fall.