The objectives of this course are to develop students’ critical evaluation of advanced financial accounting issues, and to place this within the international accounting context. I will introduce you to two advanced accounting topics: (1) combined corporate entities and consolidations in the first semester (2) financial instruments and foreign transactions in the second semester. These two topics are extremely important as the recent scandals (ENRON, SUB-PRIME MARKET, REBAR, 博達, etc.,) are all related to the transactions with either the SPE or subsidiaries being put off balance sheet. The topic is rather broad and intertwined with corporate governance and legal structure. This course, along with the chosen textbook focuses mainly on the accounting techniques. It would be advisable that you can pay more attention to the topic ‘corporate ownership and control’ at your spare time. This would motivate you to appreciate the value of advanced accounting. The course builds on the knowledge of financial accounting concepts and principles that students should have gained in intermediate accounting course.