This course is to provide students the basic concepts of the development of IFRS that will receive broad consensus support, regulators have been active in developing further requirements concerning corporate governance. It also focuses on the international accounting scandals in the US or Europe and by shareholder activism fueled by the apparent lack of any relation between increases in directors' remuneration and company performance.

CILO-1: Students will be able to describe the basic principles, concepts, theories, framework and language that constitutes the discipline of IFRS. CILO-2: Students will be able to develop a greater appreciation for the complex judgements and decisions that go into financial reporting in the global environment. CILO-3: Students will be able to identify and decribe the major gap between the IFRS and U.S. GAAP from the relevant sources. CILO-4: Students will be able to think more critically how the increasing use of IFRS on a global basis in reporting information about business and economic activites impact the global capital marketplace.