diff --git a/source/cd_hw/scd.c b/source/cd_hw/scd.c
index 9fe24a8..bbbc8fa 100644
--- a/source/cd_hw/scd.c
+++ b/source/cd_hw/scd.c
@@ -285,7 +285,7 @@ static unsigned int scd_read_byte(unsigned int address)
   if (address == 0xff8000)
   {
     /* register $00 is reserved for MAIN-CPU, we use $06 instead */
-    return scd.regs[0x06 >> 1].byte.h;
+    return scd.regs[0x06>>1].byte.h;
   }
 
   /* RESET status */
@@ -299,10 +299,10 @@ static unsigned int scd_read_byte(unsigned int address)
   if ((address >= 0xff8050) && (address <= 0xff8056))
   {
     /* shifted 4-bit input (xxxx00) */
-    uint8 bits = (scd.regs[0x4e >> 1].w >> (((address & 6) ^ 6) << 1)) << 2;
+    uint8 bits = (scd.regs[0x4e>>1].w >> (((address & 6) ^ 6) << 1)) << 2;
     
     /* color code */
-    uint8 code = scd.regs[0x4c >> 1].byte.l;
+    uint8 code = scd.regs[0x4c>>1].byte.l;
     
     /* 16-bit font data (4 pixels = 16 bits) */
     uint16 data = (code >> (bits & 4)) & 0x0f;
@@ -320,7 +320,7 @@ static unsigned int scd_read_byte(unsigned int address)
   }
 
   /* MAIN-CPU communication words */
-  if ((address & 0xf0) == 0x10)
+  if ((address & 0x1f0) == 0x10)
   {
     s68k_poll_detect(address & 0x1f);
   }
@@ -366,17 +366,24 @@ static unsigned int scd_read_word(unsigned int address)
   if (address == 0xff8000)
   {
     /* register $00 is reserved for MAIN-CPU, we use $06 instead */
-    return scd.regs[0x06 >> 1].w;
+    return scd.regs[0x06>>1].w;
+  }
+
+  /* Stopwatch counter (word access only ?) */
+  if (address == 0xff800c)
+  {
+    /* cycle-accurate counter value */
+    return (scd.regs[0x0c>>1].w + ((s68k.cycles - scd.stopwatch) / TIMERS_SCYCLES_RATIO)) & 0xfff;
   }
 
   /* Font data */
   if ((address >= 0xff8050) && (address <= 0xff8056))
   {
     /* shifted 4-bit input (xxxx00) */
-    uint8 bits = (scd.regs[0x4e >> 1].w >> (((address & 6) ^ 6) << 1)) << 2;
+    uint8 bits = (scd.regs[0x4e>>1].w >> (((address & 6) ^ 6) << 1)) << 2;
     
     /* color code */
-    uint8 code = scd.regs[0x4c >> 1].byte.l;
+    uint8 code = scd.regs[0x4c>>1].byte.l;
     
     /* 16-bit font data (4 pixels = 16 bits) */
     uint16 data = (code >> (bits & 4)) & 0x0f;
@@ -394,7 +401,7 @@ static unsigned int scd_read_word(unsigned int address)
   }
 
   /* MAIN-CPU communication words */
-  if ((address & 0xf0) == 0x10)
+  if ((address & 0x1f0) == 0x10)
   {
     /* relative MAIN-CPU cycle counter */
     unsigned int cycles = (s68k.cycles * MCYCLES_PER_LINE) / SCYCLES_PER_LINE;
@@ -682,7 +689,7 @@ static void scd_write_byte(unsigned int address, unsigned int data)
     case 0x31: /* Timer */
     {
       /* reload timer (one timer clock = 384 CPU cycles) */
-      scd.timer = data * 384 * 4;
+      scd.timer = data * TIMERS_SCYCLES_RATIO;
 
       /* only non-zero data starts timer, writing zero stops it */
       if (data)
@@ -939,8 +946,12 @@ static void scd_write_word(unsigned int address, unsigned int data)
       return;
     }
 
-    case 0x0c: /* Stopwatch */
+    case 0x0c: /* Stopwatch (word access only) */
     {
+      /* synchronize the counter with SUB-CPU */
+      int ticks = (s68k.cycles - scd.stopwatch) / TIMERS_SCYCLES_RATIO;
+      scd.stopwatch += (ticks * TIMERS_SCYCLES_RATIO);
+
       /* any writes clear the counter */
       scd.regs[0x0c>>1].w = 0;
       return;
@@ -961,7 +972,7 @@ static void scd_write_word(unsigned int address, unsigned int data)
       data &= 0xff;
 
       /* reload timer (one timer clock = 384 CPU cycles) */
-      scd.timer = data * 384 * 4;
+      scd.timer = data * TIMERS_SCYCLES_RATIO;
 
       /* only non-zero data starts timer, writing zero stops it */
       if (data)
@@ -1187,8 +1198,9 @@ void scd_reset(int hard)
   /* RESET register always return 1 (register $06 is unused by both sides, it is used for SUB-CPU first register) */
   scd.regs[0x06>>1].byte.l = 0x01;
 
-  /* Reset TIMER counter */
+  /* Reset TIMER & STOPWATCH counters */
   scd.timer = 0;
+  scd.stopwatch = 0;
 
   /* Reset frame cycle counter */
   scd.cycles = 0;
@@ -1254,9 +1266,6 @@ void scd_update(unsigned int cycles)
     }
   }
 
-  /* Stop Watch (TODO: improve timing accuracy, one unit = 384 CPU cycles) */
-  scd.regs[0x0c>>1].w = (scd.regs[0x0c>>1].w + 2) & 0xfff;
-
   /* Timer */
   if (scd.timer)
   {
@@ -1265,7 +1274,7 @@ void scd_update(unsigned int cycles)
     if (scd.timer <= 0)
     {
       /* reload timer (one timer clock = 384 CPU cycles) */
-      scd.timer += (scd.regs[0x30>>1].byte.l * 384 * 4);
+      scd.timer += (scd.regs[0x30>>1].byte.l * TIMERS_SCYCLES_RATIO);
 
       /* level 3 interrupt enabled ? */
       if (scd.regs[0x32>>1].byte.l & 0x08)
@@ -1287,6 +1296,24 @@ void scd_update(unsigned int cycles)
   }
 }
 
+void scd_end_frame(unsigned int cycles)
+{
+  /* run Stopwatch until end of frame */
+  int ticks = (cycles - scd.stopwatch) / TIMERS_SCYCLES_RATIO;
+  scd.regs[0x0c>>1].w = (scd.regs[0x0c>>1].w + ticks) & 0xfff;
+
+  /* adjust Stopwatch counter for next frame (can be negative) */
+  scd.stopwatch += (ticks * TIMERS_SCYCLES_RATIO) - cycles;
+
+  /* adjust SUB-CPU & GPU cycle counters for next frame */
+  s68k.cycles -= cycles;
+  gfx.cycles  -= cycles;
+
+  /* reset CPU registers polling */
+  m68k.poll.cycle = 0;
+  s68k.poll.cycle = 0;
+}
+
 int scd_context_save(uint8 *state)
 {
   uint16 tmp16;
diff --git a/source/cd_hw/scd.h b/source/cd_hw/scd.h
index 1e1bc11..29d26d2 100644
--- a/source/cd_hw/scd.h
+++ b/source/cd_hw/scd.h
@@ -46,11 +46,15 @@
 
 #define scd ext.cd_hw
 
-/* 5000000 clocks/s = approx. 3184 clocks/line with a master clock of 53.693175 Mhz */
-/* TODO: use emulated master clock as reference ? */
+/* 5000000 SCD clocks/s = ~3184 clocks/line with a Master Clock of 53.693175 MHz */
+/* This would be slightly (~30 clocks) more on PAL systems because of the slower */
+/* Master Clock (53.203424 MHz) but not enough to really care about since clocks */
+/* are not running in sync anyway. */
 #define SCD_CLOCK 50000000
 #define SCYCLES_PER_LINE 3184 
 
+/* Timer & Stopwatch clocks divider */
+#define TIMERS_SCYCLES_RATIO (384 * 4)
 
 /* CD hardware */
 typedef struct 
@@ -63,6 +67,7 @@ typedef struct
   uint8 bram[0x2000];         /* 8K Backup RAM */
   reg16_t regs[0x100];        /* 256 x 16-bit ASIC registers */
   uint32 cycles;              /* Master clock counter */
+  int32 stopwatch;            /* Clockwatch counter */
   int32 timer;                /* Timer counter */
   uint8 pending;              /* Pending interrupts */
   uint8 dmna;                 /* Pending DMNA write status */
@@ -76,6 +81,7 @@ typedef struct
 extern void scd_init(void);
 extern void scd_reset(int hard);
 extern void scd_update(unsigned int cycles);
+extern void scd_end_frame(unsigned int cycles);
 extern int scd_context_load(uint8 *state);
 extern int scd_context_save(uint8 *state);
 extern int scd_68k_irq_ack(int level);
diff --git a/source/mem68k.c b/source/mem68k.c
index c970e0e..90bdc62 100644
--- a/source/mem68k.c
+++ b/source/mem68k.c
@@ -466,6 +466,16 @@ unsigned int ctrl_io_read_word(unsigned int address)
           return *(uint16 *)(m68k.memory_map[0].base + 0x72);
         }
 
+        /* Stopwatch counter (word read access only ?) */
+        if (index == 0x0c)
+        {
+          /* relative SUB-CPU cycle counter */
+          unsigned int cycles = (m68k.cycles * SCYCLES_PER_LINE) / MCYCLES_PER_LINE;
+
+          /* cycle-accurate counter value */
+          return (scd.regs[0x0c>>1].w + ((cycles - scd.stopwatch) / TIMERS_SCYCLES_RATIO)) & 0xfff;
+        }
+
         /* default registers */
         if (index < 0x30)
         {
diff --git a/source/system.c b/source/system.c
index e291630..bc7b45d 100644
--- a/source/system.c
+++ b/source/system.c
@@ -992,15 +992,12 @@ void system_frame_scd(int do_skip)
   }
   while (++line < (lines_per_frame - 1));
   
-  /* reset CPU registers polling */
-  m68k.poll.cycle = 0;
-  s68k.poll.cycle = 0;
+  /* prepare for next SCD frame */
+  scd_end_frame(scd.cycles);
 
   /* adjust CPU cycle counters for next frame */
   Z80.cycles  -= mcycles_vdp;
   m68k.cycles -= mcycles_vdp;
-  s68k.cycles -= scd.cycles;
-  gfx.cycles  -= scd.cycles;
 }
 
 void system_frame_sms(int do_skip)