Advanced Financial Accounting II builds directly on Advanced Financial Accounting I, extending the same "advanced judgment applied to complex entities" theme into the international and reporting-frequency dimensions of financial accounting.
What D555 covers
The course covers foreign currency transactions and hedging — how a company accounts for doing business in currencies other than its own, and how it manages the resulting risk. It adds annual and interim reporting requirements, the distinct rules governing quarterly versus year-end financial reporting, and continues the partnership-accounting thread from D554.
By the end, students can prepare essential accounting records for partnerships, translate foreign-currency financial statements into the reporting currency, and explain U.S. Securities and Exchange Commission (SEC) reporting requirements for public companies.
The D555 performance assessment
Expect a performance assessment requiring you to translate a subsidiary's foreign-currency financial statements into the parent's reporting currency, account for a hedging instrument correctly, or prepare partnership accounting records — often paired with an explanation of the relevant SEC reporting requirement that applies to the scenario.
Key topics in D555
- Foreign currency transactions and translation
- Hedging and foreign-currency risk management
- Annual vs. interim financial reporting requirements
- Partnership accounting records
- SEC reporting requirements
Writing tips for D555
Follow the task instructions and rubric line by line
WGU performance assessments for D555 are graded against a fixed rubric, not classroom "vibes" — every rubric line has to be visibly addressed, usually with a labeled heading that mirrors the rubric language. Skipping a rubric point because it seems minor is the single most common reason a competent task submission comes back "Not Yet Competent" for revision.
Use real, specific numbers and named scenarios, not generalities
WGU evaluators are trained to distinguish genuine analysis from a paraphrased textbook summary. Ground your submission in the specific company, dataset, or scenario the task provides (or that you're asked to select), and show your work — calculations, journal entries, or supporting schedules — rather than only stating a conclusion.
Because WGU is self-paced, don't let "no deadline pressure" become no submission
There's no weekly due date forcing progress, which means procrastination costs more at WGU than at a traditional term-based school — a stalled task can quietly eat weeks of a term. Treat your own target date for each D555 assessment as a real deadline.
Stuck on your D555 task?
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Why students seek help with D555
Foreign currency translation involves choosing the correct translation method (current rate vs. temporal method) based on the subsidiary's functional currency — a determination students frequently get backward, which then produces an entirely incorrect translated statement set.
How GradeEssays helps with D555
Share your scenario and rubric, and your writer will correctly determine the functional currency and translation method, work the hedging or partnership accounting through accurately, and connect the SEC reporting angle the task expects.
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Place Your Order View All ServicesPrerequisites and program context
D555 requires Advanced Financial Accounting I (D554) as a prerequisite.
- Master of Science in Accounting, Financial Reporting Specialization
- Master of Science in Accounting, Taxation Specialization
Related courses
Frequently asked questions
The subsidiary's functional currency determines the method: if it matches the parent's reporting currency (or the local currency is the functional currency), the current rate method typically applies; if the parent's currency is functionally used instead, the temporal method applies. D555 expects you to correctly identify which situation you're in before translating.
Yes, Advanced Financial Accounting I is a required prerequisite — D555 builds directly on the consolidation and partnership-accounting foundation D554 establishes.