This course engages students in critical analysis of the major approaches to the formulation of an accounting theory. The features, similarities, differences and merits, or otherwise, of alternative theoretical approaches to analysing and dealing with contemporary problems facing accounting and accountants are examined.  

Upon successful completion of the requirements for this course, students should be able to:

• Critically evaluate and be prepared to discuss in seminars the major approaches to the formulation of an accounting theory in relation to financial reporting.
• Critically evaluate and be prepared to discuss in seminars the major accounting approaches to the measurement of income and capital.
• In writing and in discussion during seminars, explain the role of positive accounting theory in explaining and predicting accounting policy choice and the behaviour of the capital markets.
• Assess and be prepared to discuss in seminars ethical issues that arise in the way companies choose accounting treatments;
• Critically evaluate and be prepared to discuss in seminars how economic factors appear to motivate companies and their agents to report financial information in the way they do.
• Critically evaluate and be prepared to discuss in seminars the role of regulation in financial reporting.
• Critically evaluate and be prepared to discuss in seminars the political forces that appear to have shaped accounting standards and other regulations.
• Critically evaluate and be prepared to discuss in seminars whether information provided in financial reports is useful to investors and creditors;
• Research, analyse and be prepared to discuss in seminars complex contemporary financial accounting issues, formulate well reasoned and coherent arguments and reach well considered conclusions in relation to those issues.
• Apply the Harvard referencing system appropriately to written submissions.
• Think critically about the readings and generally accepted accounting principles and be prepared to discuss in seminars.
• Write essays/reports using English at an appropriate professional level.

The specific learning objectives identified at the commencement of the lecture material for each of the topics are an integral part of the course/above broad learning outcomes.

• In Class Discussion 10%
• Assignment 1  5%
• Mid Semester Examination 10%
• Assignment 2  15%
• Final Examination 60%

10 hours per week (3 hour seminar; 7 hours additional study)

At least an average of 65% (or equivalent) in the final two years of an Australian undergraduate degree

BUSN7008 Financial Statements and Reporting.

See Course Outline

See Course Outline

For further information please refer to the course website