Accounting review
CH3
-The accounting treatment of goodwill impairment/ detailed two-step impairment test – apart from qualitative assessment (1) if CV of reporting unit is > than FV of reporting unit, take step 2; if opposite, stop. (2) compare CV of goodwill w/ FV of goodwill; if CV is > FV, there might be potential impairment.
CH4
-Determine the fair value of sub/the fair value of NCI – FV allocation; FV of sub = FV of CI + FV of NCI; go by mkt price if there is; use parent if there isnt
-Determine goodwill using fair value allocation table/Compute annual amortization – like CH 3
-Maintain investment and equity in sub income accounts
-Determine the consolidated totals (consolidated NI, equipment, etc.), consolidated NI to CI, consolidated NI to NCI, and ending NCI.
-Understand what value (book value vs. fair value) should be included in the computation of consolidated totals.
-The relation between numbers on parent’s book and the consolidated totals under equity method
-Step acquisition/remeasurement
CH5
- Maintain investment and equity in sub income accounts with intra-entity transfer of inventory
-Understand the difference between upstream and downstream sales regarding the impact on accounts and NCI in sub income
-CJEs (intra-entity transfers of inventory, land or equipment) /Analyze the CJEs (transfer of equipment) impact on consolidated net income
-Determine the consolidated totals (Sales, COGS, Inventory, Depreciable Assets, Land, NCI in sub income, etc.)
-Defer gains/losses to when
CH6
-The gain/loss from retirement of bonds is usually attributed to whom
-Characteristics of VIE
-Calculate CFO for consolidated entity/categorize dividend payment
-General approach to calculating diluted EPS for consolidated entity
-Intra-entity debt transaction
-The accounting treatment of goodwill impairment/ detailed two-step impairment test – apart from qualitative assessment (1) if CV of reporting unit is > than FV of reporting unit, take step 2; if opposite, stop. (2) compare CV of goodwill w/ FV of goodwill; if CV is > FV, there might be potential impairment.
CH4
-Determine the fair value of sub/the fair value of NCI – FV allocation; FV of sub = FV of CI + FV of NCI; go by mkt price if there is; use parent if there isnt
-Determine goodwill using fair value allocation table/Compute annual amortization – like CH 3
-Maintain investment and equity in sub income accounts
-Determine the consolidated totals (consolidated NI, equipment, etc.), consolidated NI to CI, consolidated NI to NCI, and ending NCI.
-Understand what value (book value vs. fair value) should be included in the computation of consolidated totals.
-The relation between numbers on parent’s book and the consolidated totals under equity method
-Step acquisition/remeasurement
CH5
- Maintain investment and equity in sub income accounts with intra-entity transfer of inventory
-Understand the difference between upstream and downstream sales regarding the impact on accounts and NCI in sub income
-CJEs (intra-entity transfers of inventory, land or equipment) /Analyze the CJEs (transfer of equipment) impact on consolidated net income
-Determine the consolidated totals (Sales, COGS, Inventory, Depreciable Assets, Land, NCI in sub income, etc.)
-Defer gains/losses to when
CH6
-The gain/loss from retirement of bonds is usually attributed to whom
-Characteristics of VIE
-Calculate CFO for consolidated entity/categorize dividend payment
-General approach to calculating diluted EPS for consolidated entity
-Intra-entity debt transaction