Prerequisite(s): ACCT 520. Restriction(s): BS/MS Accounting degree students; MS in Accounting degree students; Professional Accounting Certificate students; Accounting Certificate Students; MBA Accounting degree students with departmental approval. This course builds on material presented in Accounting 520, Contemporary Issues in Financial Accounting I. It will enable students to acquire an improved understanding of the composition and significance of various segments of the balance sheet, especially noncurrent assets, noncurrent liabilities, stockholders' equity, and the statement of cash flows. It will also assist students in enhancing their skills in analyzing and recording complex business transactions including revenue recognition, investments, deferred tax, leases, pensions. A framework is developed to enable the student to prepare as well as interpret and analyze written and oral communications published in financial reports.