This book is specifically designed for students enrolled in Financial Accounting and Reporting II course. The objective of this book is to assist students to understand the contents of the course by focusing on the Standards and its application in reporting companies’ financial statements. This book has been arranged according to the syllabus that consistent with the Hala tuju 3 in curriculum review process. There are nine chapters in the FAR II course and each chapter discussed in this book contains learning objectives, an introduction, comprehensive discussion, summary and accompanied by practical illustrations with suggested solutions. To facilitate students understanding, a comprehensive set of revision questions are available at the end of each chapter with some clues to the answers. Written in simple English by experienced lecturers, students will find this book to be useful and friendly companion in their learning process. This book can also serves as a good and helpful teaching materials for lecturers.