Monash University Handbook 2011 Undergraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

Synopsis

Topics include the nature of theory and scientific method by considering two basic methods of enquiry: induction and deduction; the emergence of general descriptive and prescriptive accounting theories; the application of measurement theories; the regulation of financial accounting and the development of international accounting as they relate to the conceptual framework; and summarising and identifying the assumptions underlying accounting concepts by critiquing the financial statements.

Objectives

The learning goals associated with this unit are to:

1. outline the development of accounting concepts and international accounting
2. critically review conventional accounting practice
3. compare and contrast alternative accounting models
4. understand ethical principles and their application of these principles in the field of business
5. apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with accounting theory.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Prerequisites

Students must have passed AFW2491 or AFG2491 before undertaking this unit.

Prohibitions

AFC3120, AFF3491, AFW3040