The course is a continuation of BACC 305. It concentrates on the measurement and reporting of liabilities and of the various components of stockholders’ equity in accordance with IFRS. The course also highlights the main differences between IFRS and GAAP to provide the students with a global accounting education. The course emphasizes on fair value, the proper accounting for financial instruments, and the new developments related to dilutive securities, revenue recognition and the reporting of accounting changes and errors. The preparation and analysis of the statement of cash flows is also covered in this course.