Overview

The course will cover the following:

Normative theories of accounting

Positive accounting theories

Behavioural accounting theories

Systems-oriented theories

Critical accounting theories

Conceptual frameworks for financial reporting

A regulatory framework for financial reporting

Presentation of financial statements

Specific issues, including financial instruments, leases, liabilities, employee benefits, share-based payments and taxation

Assessment Strategy

-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives. -good -B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills. -excellent -A- to A+ (70%+): Outstanding Performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills. -another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Learning Outcomes

• Assess the historical pillars of accounting practices and appraise the evolution of the same as regulatory accounting frameworks.

• Compare and contrast the characteristics of the concepts of theory development and theories of accounting policy selection, measurement of financial income and the social use of accounting information.

• Critically analyse factual scenarios within the hypothetical framework established in the course by using contemporary issues in accounting.

• Critically examine modern accounting practice and the factors influencing the scope of accounting and practitioners on this field.

• Implement accounting theories in the context of international financial reporting environment.