This course examines issues in financial reporting from both preparer and user perspectives. The course aims to deliver concepts of accounting, International Financial Reporting Standards (IFRS), and the application of accounting standards to the preparation of the financial statements. Real case studies are introduced throughout the course. Contents of the course include: Conceptual framework; Transaction analysis and accrual accounting; Financial statements and analysis; Cash and cash flow statement; Accounting information for decision making; Corporate governance; Accounting fraud and misappropriation of assets; Contemporary issues in Accounting, etc.

CILO-1: Appreciate critically the challenges and limitations of accounting. CILO-2: Conceptualize critically the financial accounting theory and practices. CILO-3: Formulate independent judgments regarding issues in financial statements and accounting treatments. CILO-4: Prepare financial statements under requirements of International Financial Reporting Standards. CILO-5: Critically utilize accounting concepts to practical situations. CILO-6: Critically utilize the financial statements for decision makings.