This accounting course focuses on the process of providing financial information for business decisions. The evolution in a nature of doing business affects the comparablity of financial statements among the users. A single set of accounting standards, International Financial Reporting Standard (IFRS) is currently being globaly applied. The MNCs gain tremendous benefits from the introduction of IFRS. This course concerntrates on the application of IFRS in various transactions such as in the preparation, valuation, and presentation of the contents of the statement of financial position. The course applies IFRS to prepare the income statement and the statement of cash flows.