Lesson: Noncontrolling Interest in a Subsidiary

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In this lesson, delve into the complexities of accounting for a noncontrolling interest (NCI) in a subsidiary. Nick Palazzolo, CPA, breaks down the scenarios and computations involved when a parent company does not have full ownership of a subsidiary. Using clear examples, he illustrates how to determine the NCI value on the consolidated balance sheet, the effects of subsidiary's net income and dividends on NCI, and the nuances of attributing profits and losses. Additionally, Nick explains how NCI impacts the consolidated income statement, ensuring a comprehensive understanding of this pivotal topic within financial reporting.

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Module: 8 Concepts, 74 Videos
Accounting Changes and Error Corrections Overview and Objectives
1:31
Types of Accounting Changes
2:56
Changes in Accounting Principle
3:38
Changes in Accounting Estimate
6:34
Changes in Reporting Entity
0:50
Types of Accounting Errors
2:22
Accounting Changes and Error Corrections Summary
4:33
Accounting changes and error corrections - Practice Questions
4:16
Subsequent Events Overview
1:14
Subsequent Events Objectives
0:57
Recognized Subsequent Events
4:57
Non-Recognized Subsequent Events
1:44
Subsequent Events Evaluation Period
2:32
Subsequent Events Example
6:21
Subsequent Events Summary
1:02
Subsequent Events - Practice Questions
6:36
Fair Value Measurements Overview and Objectives
1:12
Fair Value Hierarchy
3:40
Lower of Cost or Market Rule
3:27
Lower of Cost or Market Example
2:23
Accounting for a Decline in Market Value
1:02
Relative Sales Value Example
2:18
Purchase Commitments
0:37
Estimating Inventory - Gross Profit Method
4:16
Estimating Inventory - Retail Inventory Method
2:49
Most Advantageous Market
3:11
Fair Value Measurements Summary
0:36
Accounting changes and error corrections - Practice Questions
4:01
Business Combinations Overview and Objectives
1:38
Voting Interest Model
3:56
Variable Interest Entities
5:25
Goodwill from Business Combinations
2:49
Goodwill Impairment
5:20
Accounting for Company Acquisition
8:11
Noncontrolling Interest in a Subsidiary
9:01
Noncontrolling Interest Example
4:41
Subsidiary Fair Value
1:41
Subsidiary Acquisition with Goodwill
2:07
Intercompany Transactions
5:30
Business Combinations Summary
0:50
Business combinations - Practice Questions
5:29
Contingencies and Commitments Overview
0:52
Contingencies and Commitments Objectives
1:09
Basic Concepts of Contingencies and Commitments
1:13
Loss Contingencies
3:10
Gain Contingencies
1:54
Contingency Treatments
1:24
Contingencies and Commitments Example
3:54
Contingencies and Commitments Summary
1:10
Contingencies and commitments - Practice Questions
4:19
Leases Overview and Objectives
1:46
Introduction to Leases
3:10
Lease Classification Process
14:07
Lessee Accounting for Finance Leases
18:41
Lessee Accounting for Operating Leases
9:47
Lessor Accounting for Operating Leases
3:20
Lessor Accounting for Sales-Type Leases
9:13
Leases Summary
0:38
Leases - Practice Questions
8:11
Research and Development Costs Overview and Objectives
0:57
Accounting for Research and Development
4:58
Classification of R&D Costs
3:12
Technological Feasibility: Capitalizing Versus Expensing
1:44
Treatment of Intangible Assets
1:31
Research and Development Costs Example
3:08
Research and Development Costs Summary
0:33
Research and development costs - Practice Questions
3:35
Software Costs Overview and Objectives
1:04
Expensing Versus Capitalizing Software Costs
1:28
Software Created for Internal Company Use
2:13
Software Created to be Sold or Licensed
2:35
Research and Development Example
2:22
Software Costs Summary
0:28
Differences between IFRS and U.S. GAAP - Practice Questions
5:34