This course examines current issues faced by accountants, businesses and their stakeholders. Possible issues include new accounting standards implementation, unique business entities, and creative business mechanisms, social and environmental accounting and so on. The exact topics of contemporary interest will be determined by the instructor in charge.

CILO-1: Able to define the rol of theory in financial accounting CILO-2: Able to explain what a conceptual framework for accounting is CILO-3: Able to distinguish between rule-based and principle-based accounting standards CILO-4: Able to understand the impact of measurement choices on the quality of accounting information CILO-5: Able to identify the various types of theories in accounting CILO-6: Able to evaluate the importance of the reporting entity and its elements CILO-7: Able to identify the findings of capital market research relevant to accounting CILO-8: Able to describe a number of common methods of earnings management CILO-9: Able to describe the key aspects of the new definitions of fair value CILO-10: Able to explain sustainability reporting and describe a range of methods used to report sustainability and environmental performance CILO-11: Able to outline the diversity of international accounting practices