This course is a continuation of Intermediate Accounting I. It provides an in-depth analysis of the Financial Accounting theory, concepts, and procedures underlying the preparation and analysis of financial statements for corporate organizations. This course is intended to further develop the student’s competence in financial reporting. Topics covered include; Valuation of inventories; Property, Plant & Equipment; Intangible Assets; Current liabilities and contingencies; long-term liabilities; shareholder equity; dilutive securities & earning per share and other special topics such as accounting for taxes; and leases. Due to the dynamic nature of accounting, the latest International Financial Reporting Standards/International Accounting Standards (IFRS/IAS) are also included for a contemporary approach.