Be able to track what the parents investment account should be at any time, reflecting the initial acquisition, subsequent earnings and dividends, excess value allocations. (Ch. 3)

From a situation, be able to say what the balances, in consolidation, should be for various balance sheet and income statement items. (Ch. 3)

Make consolidation entries. See the books examples on pages 92-94 and 96-99.

Explain the process used to compute if goodwill is impaired, and be able to compute goodwill impairment given an example. (Ch. 3, but note the rules have recently changed, so check my class notes)

The initial allocation of the value of an acquired company to the parent and to the non-controlling interest (Ch. 4)

Be able to explain verbally what will appear in the consolidated financial statements related to the non-controlling interest. (Ch. 4)

Be able to track the balance sheet account for non-controlling interest over time (Ch. 4)

Be able to make consolidation entries that involve non-controlling interest the initial set-up, the allocation of excess value and the related amortization, the interest in earnings, etc. (Ch. 4)

Be able to explain what the final consolidated balances for key accounts should be where there is non-controlling interest (Ch. 4)

Compute what should be shown in consolidation in the presence of situations with intercompany transfers of inventory, or land, or depreciable assets (Chapter 5)

Be able to make entries dealing with intercompany inventory sales ignoring non-controlling interests (Ch. 5)