After reflecting on what you have learned and how you have benefited by taking AC450 Advanced Accounting, write a minimum one page response to the questions below. Make sure to address the critical elements so you will be successful in completing this assignment. Please answer the following questions in your paper:
1. Reflect and describe which key concepts and topics in this course have made you a stronger candidate to enter the business world.
2. Reflect and describe which key concepts and topics in this course have encouraged you on your ac academic path.
3. Discuss how this course has affected you in your professional development as a student and as a person.
The key concepts and topics in AC450 Advanced Accounting that have made me a stronger candidate to enter the business world are combined corporate entities and consolidation, multinational accounting, and governmental and not for profit accounting.
Currently in the business world mergers and acquisitions are being carried out very frequently. These are done to reduce costs, enter new markets, diversify, and develop new skills and knowledge. Firms are acquired to gain economies of scale, tax benefits, financial resources, growth, and overcoming competition. Knowledge of business combination, consolidated statements, accounting procedures for events after acquisition, intercompany transactions leading to merchandise, plants, bonds, and leases, accounting procedures for investment in a subsidiary has made me a stronger candidate to enter the business world.
One concept that has made me a stronger candidate to enter the business world is multinational accounting and related accounting concepts. Businesses are becoming multinational because it brings them faster growth, cheaper imports, new technologies, and low cost production. For example, the market of a US company increases substantially if it becomes multinational. My knowledge of international accounting environment, knowledge of derivatives, and foreign currency transaction makes me a stronger candidate to enter the business world. For example, if my company wants to hedge against losses from foreign exchange fluctuations, I know all the accounting ...
This solution explains different perspectives on advanced accounting. The sources used are also included in the solution.