Financial Accounting II

Pusan National University

Course Description

  • Course Name

    Financial Accounting II

  • Host University

    Pusan National University

  • Location

    Busan, South Korea

  • Area of Study

    Accounting, Finance

  • Language Level

    Taught In English

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credits

  • Recommended U.S. Semester Credits
  • Recommended U.S. Quarter Units
  • Overview

    Course Objectives
    This course is designed as a sequel to Financial Accounting (I) to cover the second half of the Financial Accounting course topics. It provides students with an in-depth understanding of accounting as “the language of business,” specifically focusing on the issues not covered in Financial Accounting (I), except advanced topics such as consolidated financial statements, accounting for derivatives, and others. Financial Accounting course series introduces students to the concepts, principles, procedures, and approaches underlying the recognition, measurement process of asset, liability, equity accounts, and other related issues under the IFRS context. This understanding facilitates the interpretation and, to some extent, preparation and analysis of financial information, which is necessary for making business decisions and understanding the economic reality of business entities.

    A brief outline of course schedule is provided below:

    • Current Liabilities, Provisions, and Contingencies
    • Revenue Recognition
    • Accounting for Income Taxes
    • Accounting for Pensions and Postretirement Benefits
    • Accounting for Leases
    • Accounting Changes and Error Analysis
    • Statement of Cash Flows
    • Presentation and Disclosure in Financial Reporting

    Textbooks and References
    Kieso, Weygandt, and Warfield. 2018, Intermediate Accounting IFRS Edition (Third edition), Wiley