Assume you are a senior manager with a mid-size public accounting firm. Your firm serves several multinational corporations, successful partnerships, government agencies, and nonprofit organizations. You have a cohort of new hires, recent college graduates, that begin their training next week. The managing partner has asked you to develop a presentation highlighting some of the advanced financial accounting issues commonly encountered when serving these clients.

• Combine multiple sources and ideas about the role of intercompany investments, including the appropriate accounting methods based on the level of ownership and influence.
• Assess the accounting and financial reporting implications associated with various consolidations of subsidiaries.
• Explain the processes that companies use to transfer inventories, long-term assets, and services between subsidiaries, including the role of transfer pricing.
• Analyze the role of foreign currency and risk management in financial reporting for multinational corporations.
• Evaluate the key accounting considerations, entries, and reports applicable to businesses operating as partnerships.
• Compare and contrast the financial reporting needs of government agencies and not-for-profit organizations with those of regulated corporations.
• Develop a checklist highlighting the periodic reporting and disclosure requirements for regulated companies, including segment reporting, interim reporting, and SEC compliance.

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Presentation Outline I Introduction to Advanced Financial Accounting Issues Importance of advanced f... View the full answer