Examines some of the more complex albeit common contemporary financial accounting and reporting issues as part of a post-intermediate financial accounting course. The primary topics include accounting for business combinations, investments in common stocks, consolidated financial statements, joint ventures, foreign currency transactions, accounting for derivatives, financial instruments, and share-based payments. The course also alludes to international accounting standards (IFRS) and standards issued by the Saudi Organization for Certified Public Accountants (SOCPA). The subject is designed to provide students, who are majoring in accountancy, with professional, theoretical and practical knowledge that is needed by accountants in understanding and discharging their responsibilities as professional accountants. This includes the legal, professional and ethical requirements.

Pre-requisites: ACCT302