This course deals with specialized problems likely to be encountered by accountants. The study of various topics in this course is based upon the recent business developments and current changes in accounting standards, especially the coverage of business combination, the preparation of financial statements on the date of acquisition and subsequent to acquisition. This course includes the general procedures and specialized problems in home office and branch accounting; accounting for business combinations and the consolidated statement of financial position; and accounting for foreign currency transactions and translation of foreign financial statements

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This course covers the detailed discussion, appreciation and application of the Philippine Financial Reporting Standards (PFRS) on the assets, financial and non-financial of a business enterprise. Emphasis is given on the interpretation and application of the accounting standards on Financial Assets and their required disclosures.

The related internal control, ethical issue and management of assets are also covered. Exposure to computerized system in receivables, inventory and lapsing schedules is a requirement in this course.

This course is designed to orient the students to cost accounting and control framework of business. It exposes the students to different product costing procedures. It includes accounting procedures for main products and incidental products that are manufactured simultaneously in a common process. It encompasses the costing techniques and procedures for companies that use standard costs as a benchmark for costing the products.