Contemporary Issues in Accounting
Broaden your knowledge of financial accounting theories and how they're formulated.
Appraise the role of professional accounting societies. Dig into proposed accounting principle reforms. Highlight the core approaches to accounting research.
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At the completion of this subject students will be able to:
- Demonstrate an understanding of the role of the practising accountant and their professional societies in the development of accounting principles.
- Demonstrate an understanding of dominant approaches in accounting research.
- Appraise the theoretical validity and practical feasibility of proposed solutions for the reform of accounting principles.
- Apply the main features of accounting reforms.
- 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
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.
- Software requirements - 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 the difficulties of formulating accounting theories.
This subject with cover: Nature of theory and theory testing; accounting policy choice; normative theory, positive accounting theory; capital market research (CMR); behavioural research; critical perspectives of accounting; latest developments and current issues in accounting.
- Case Study - 1000 Words Brief & Presentation (50%)
- Invigilated Exam - 3 hours (50%)