MAC452 MACPROFEL1: Updates in Management Accounting (B01-AP2)

In the era of globalization and knowledge-based economy, business models have become dynamic and continually changing. Accounting standards and practices must adapt to this dynamism to become relevant. The implementation of the International Financial Reporting Standards(IFRS), locally adopted as the Philippine Financial Reporting Standards(PFRS), is key to increasing the transparency and reliability of financial information and further enhancing the efficiency of the value chain of the enterprises. This course provides students with updates on accounting standards and practices before graduating from the program. Because the standards are principles-based, they require an in-depth knowledge of the underlying concepts, as well as the application of professional judgment.