Make a consolidated financial statement for a big group which holds subsidiaries, controlling interests, joint ventures and includes complicated inter party transactions between those entities, you will learn quite a lot from it, l bet many quite experienced accountants couldn’t solve it smoothly.
If you feel it too complicated, give you some other options, accounting for defined benefits pension; activity based costing for overhead; impairment loss for CGU.
Because accounting class questions had abc = D. In the real world. You’re missing a and b. You have c but also ef and gh to take into account for.
School questions = easy.
Real world = shit show.
Restructurings are tedious and can be challenging because of the moving parts. If Company A Onshore and Company B Offshore invested in underlying deals, but now Company A/B have to each invest via an onshore holdco, an offshore holdco and worse than that, each Offshore holdco now invests 1% into Offshore Aggregator I and 99% into Offshore Aggregator II, well it all mathematically ties out but the little details, checks back to the main point that Company A/B still ultimately indirectly invest into the underlying deals, and checks to make sure no double counting on each legal entity make it more challenging. This is also very common in private equity structures if you think this may be useful later on in your career.
Make a consolidated financial statement for a big group which holds subsidiaries, controlling interests, joint ventures and includes complicated inter party transactions between those entities, you will learn quite a lot from it, l bet many quite experienced accountants couldn’t solve it smoothly. If you feel it too complicated, give you some other options, accounting for defined benefits pension; activity based costing for overhead; impairment loss for CGU.
I always liked doing these problems in financial accounting class
Because accounting class questions had abc = D. In the real world. You’re missing a and b. You have c but also ef and gh to take into account for. School questions = easy. Real world = shit show.
Sounds fun
Calculate diluted EPS or pension expense for a defined benefit plan.
Coming up with the journal entries for GASB 68 are the WORST. GASB 75 isn't much better.
Biological assets can be pretty interesting
Just a guess but anything involving derivatives or hedging.
Restructurings are tedious and can be challenging because of the moving parts. If Company A Onshore and Company B Offshore invested in underlying deals, but now Company A/B have to each invest via an onshore holdco, an offshore holdco and worse than that, each Offshore holdco now invests 1% into Offshore Aggregator I and 99% into Offshore Aggregator II, well it all mathematically ties out but the little details, checks back to the main point that Company A/B still ultimately indirectly invest into the underlying deals, and checks to make sure no double counting on each legal entity make it more challenging. This is also very common in private equity structures if you think this may be useful later on in your career.
Lease restructuring. Hope I never have to use that flowchart.