An overview of the financial accounting theory, practice, problems, and reporting requirements for various economic entities. These include partnerships, foreign branches and subsidiaries, state and local governments, colleges and universities, hospitals, voluntary organizations, and the modern parent/subsidiary corporate structure. The approach taken in this course is that there are common information needs which each of these entities must satisfy. While the specific approach used to satisfy this need is dependent on a variety of factors, the common thread is that useful information is being generated for the consumers of that information. Prerequisite: ACC 302.