This course is a continuation of Financial Accounting Part I & Part II. It deals with the current trends in accounting for shareholder’s   equity, in accordance with accounting standards (Philippines Accounting. Standards and Philippine Financial Reporting Standards issued by the Accounting Standards Council. Is also covers accounting for leases, income tax and employee benefits. 

1.  Have sound knowledge of the generally accepted accounting principles applicable to the recognition, measurement, valuation, presentation and disclosures relating to shareholders’ equity.

2. Integrate and apply the generally accepted accounting principles to problem situations involving shareholders’ equity that are likely encountered in practice.

3.  Understand the application of accounting principles and reporting practices about financial accounting for leases, income tax and employee benefits,

1.  Apply the skills in the presentation of financial statements with focus on shareholders’ equity, lease, income tax, employee benefits and related revenue and expense items.

2.   Realize the contributions of accounting standards to the development of a more socially responsible and morally upright professional accountant.

4.   Appraise critically the role of international Accounting Standards in achieving harmonization of accounting standards throughout the world. 

2.  Compilations of basic standards covering definition, recognition,  measurement, classification balance sheet presentation and   disclosure requirement relating to assets, liabilities and equities covered by the subject.