Fundamentals of Advanced Accounting, 2/e is ideal for those schools wanting to cover 12 chapters in their advanced accounting course. Typically, this course covers 5-6 consolidations chapters, two foreign currency chapters, two partnership chapters, and 2-3 governmental and not-for-profit chapters. Fundamentals of Advanced Accounting boasts the same great assets that have made the authors' longer Advanced Accounting a success, including the incorporation of the latest FASB pronouncements, the integration of skill preparation for the new CPA exam, and of course, great authorship. This edition also includes an update on the Financial Accounting Standard Board (FASB), in conjunction with the International Accounting Standards Board, which enacted the following two statements of financial accounting standards (SFAS) that will affect significantly the accounting and financial reporting for business combinations:

SFAS 141R, �Business Combinations� (to replace SFAS 141).

SFAS 160, �Noncontrolling Interests and Consolidated Financial Statements� (to replace Accounting Research Bulletin 51).

Ch. 1 The Equity Method of Accounting for Investments
Ch. 2 Consolidation of Financial Information
Ch. 3 Consolidations - Subsequent to the Date of Acquisition
Ch. 4 Consolidated Financial Statements and Outside Ownership
Ch. 5 Consolidated Financial Statements - Intercompany Asset Transactions
Ch. 6 Intercompany Debt, Consolidated Statement of Cash Flows, and Other Issues
Ch. 7 Foreign Currency Transactions and Hedging Foreign Exchange Risk
Ch. 8 Translation of Foreign Currency Financial Statements
Ch. 9 Partnerships: Formation and Operation
Ch. 10 Partnerships: Termination and Liquidation
Ch. 11 Accounting for State and Local Governments, Part I
Ch. 12 Accounting for State and Local Governments, Part II