Undergraduate - UnitAFW3040 - Accounting theory

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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.

Outcomes

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 and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by AFW3040.

Assessment

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

Chief examiner(s)

Mr Ananda Samudhram

Contact hours

3 hours per week

Prerequisites

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

Prohibitions

AFC3120, AFF3491, AFG3040