Dr J Godfrey. 306-202 Intermediate Financial Accounting and 316-202 Intermediate Micro-economics. First semester Three hours per week. On completion of this subject a student should:

• understand the role of theory development in explaining accounting behaviour;
• appreciate the principal existing theories that explain the production and/or usage of accounting reports;
• understand and think critically about the accounting regulatory process;
• understand the principles that underlie the recognition and measurement of core accounting concepts and think critically about their shortcomings;
• comprehend the range of emerging issues in financial accounting.

This subject aims to develop a critical understanding of the underpinning theories and assumptions underpinning financial accounting and an analysis of contemporary financial accounting issues. Topics covered include the conceptual framework of accounting; alternative theories for explaining accounting behaviour and accounting choice; the regulatory process as it affects financial reporting; recognition and measurement issues and controversies and emerging issues in accounting. A 3-hour final examination (80 per cent), an assignment not exceeding 2,000 words (10 per cent) and tutorial assignments and participation (10 per cent). Godfrey J, Hodgson A, Holmes S and Kam V Accounting Theory 2nd edition. John Wiley and Sons Brisbane 1993