This course covers the students’ knowledge of the concepts and principles in advanced financial accounting and reporting and the application of these accounting concepts including techniques and methodology to problems likely to be encountered in practice. Students should know and understand problems involving accounting of special transactions and their effects and presentation in the financial statements including among others: accounting for partnerships, corporate liquidation, joint arrangements, revenue recognition, home office, branch and agency transactions, business combinations, separate and consolidated financial statements, foreign currency transactions and translations, not for-profit organizations, including government and cost accounting. Also, a working knowledge of the standards related to these special topics on insurance contracts, service concession arrangement and derivatives are expected of the students.
The student must also be able to communicate effectively matters pertaining to these special accounting topics and the related work that will be handled.
The knowledge of the students in the competencies cited above is that of an entry level accountant who can address the fundamental requirements of the various parties that the students will be interacting professionally in the future.
- Teacher: gensbergh rago
- Enrolled students: 6