Be able to track what the parent's 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 book's examples and those discussed in class. Explain the process used to compute if goodwill is impaired, and be able to compute goodwill impairment given an example. (Ch. 3 -I would only test the new rules) The initial allocation of the value of an acquired company to the parent and to th e 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 Compute what should be shown in consolidation in the presence of situations with Be able to make entries dealing with intercompany inventory sales- ignoring non- there is non-controlling interest (Ch. 4) intercompany transfers of inventory, or land, or depreciable assets (Chapter 5) - controlling interests (Ch. 5) Be able to track what the parent's 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 book's examples and those discussed in class. Explain the process used to compute if goodwill is impaired, and be able to compute goodwill impairment given an example. (Ch. 3 -I would only test the new rules) The initial allocation of the value of an acquired company to the parent and to th e 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 Compute what should be shown in consolidation in the presence of situations with Be able to make entries dealing with intercompany inventory sales- ignoring non- there is non-controlling interest (Ch. 4) intercompany transfers of inventory, or land, or depreciable assets (Chapter 5) - controlling interests (Ch. 5)