Subject details

At the completion of this subject students will be able to:

  1. Demonstrate an understanding of the role of the practising accountant and their professional societies in the development of accounting principles.
  2. Demonstrate an understanding of dominant approaches in accounting research.
  3. Appraise the theoretical validity and practical feasibility of proposed solutions for the reform of accounting principles.
  4. Apply the main features of accounting reforms.
  • Topics
    • The Financial Reporting Environment
    • Regulation: Standard Setting and the Effects of IFRS
    • Measurement Issues 1: Valuation in Changing Prices and Market Conditions
    • Measurement Issues 2: Conceptual Framework
    • Measurement Issues 3: Accounting Policy Choice
    • Unregulated Decision-Making
    • Measurement and Recognition Issues in Practice 1: Accounting for Agriculture
    • Measurement and Recognition Issues in Practice 2: Accounting for Financial Instruments
    • Market and Behavioural Reactions to Financial Reporting
  • Study resources
    • Instructional Methods
      • Disscusion forum/Discussion Board
      • Online assignment submission
    • Online Materials
      • Resources and Links
      • Printable format materials

Entry Requirements

You must either have successfully completed the following subject(s) before starting this subject, or currently be enrolled in the following subject(s) in a prior study period; or enrol in the following subject(s) to study prior to this subject:

Please note that your enrolment in this subject is conditional on successful completion of these prerequisite subject(s). If you study the prerequisite subject(s) in the study period immediately prior to studying this subject, your result for the prerequisite subject(s) will not be finalised prior to the close of enrolment. In this situation, should you not complete your prerequisite subject(s) successfully you should not continue with your enrolment in this subject. If you are currently enrolled in the prerequisite subject(s) and believe you may not complete these all successfully, it is your responsibility to reschedule your study of this subject to give you time to re-attempt the prerequisite subject(s)


Students should have completed 16 OUA subjects of study from the University of South Australia's Bachelor of Accounting prior to attempting this subject.

Special requirements

  • SoftwareDetails - Suitable software to complete an audio-visual presentation

The aim of this subject is to extend your knowledge and understanding of financial accounting theory and use it to explain accounting standard setting, accountant behaviours in practice, and individual and collective reactions to acounting information.

  • Assignment 1 - Continuous Assessment (30%)
  • Assignment 2 - 2 hours (40%)
  • Assignment 3 - 2000 Words (30%)

Textbooks are subject to change within the academic year. Students are advised to purchase their books no earlier than one to two months before the start of a subject.

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