306-301 Financial Accounting

Coordinator:

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Objectives:

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.

Content:

This subject aims to develop a critical understanding of the supporting 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.

Assessment:

Prescribed Texts:

• Godfrey J, Hodgson A, Holmes S and Kam V, Accounting Theory, 2nd ed. John Wiley and Sons Brisbane 1993.