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ACFI3001: Accounting Theory
OVERVIEW
Course Description
Theory defines practice. Its success depends upon its value to the user. Various issues associated with the formulation of accounting theory are investigated. General parameters established by reference to alternate organisational structures and theories are used to evaluatethe requirements of accounting in major managerial activities. Self-directed learning and critical thinking skills are emphasised as essential professional attributes
Sustainable
Development Goals
Contact Hours
Integrated Learning Session
Face to Face on Campus
Two (2) hour(s) per Week for Full Term
Students are expected to complete 4 hours of guided learning via online preparation, lectures, interactive workshops, tutorials, discussion groups or self-directed learning and an additional 6 hours of independent study per week.
Unit Weighting
10
Pre-requisites
Students must have successfully completed ACFI2011 or ACFI2003 to enrol in this course.
Workload
Students are required to spend on average 120-140 hours of effort (contact and non-contact) including assessments per 10 unit course.
Please refer to the course CANVAS site for details of teaching staff for ALL course offerings. The primary contact for courses is the Course Coordinator, whose details are listed on the course CANVAS site.
Student Consultation A minimum of one (1) hour of consultation per week. Please see course CANVAS site for details of time and location.
Course Learning
Outcomes
On successful completion of this course, students will be able to:
1. Interpret, discuss and evaluate competing accounting theories and concepts including but not limited to agency theory, institutional theory, stakeholder theory, legitimacy theory, contingency theory, critical theory, and others;
2. Apply accounting theories and concepts to analyse current accounting issues in society and organisations;
3. Demonstrate an in-depth understanding of Australian and international conceptual frameworks and accounting standards;
4. Construct a research proposal that identifies research aims, literatures and theories that are relevant to contemporary accounting issues; and
5. Work independently to communicate professional knowledge and experience in written format.
ASSESSMENT DETAILS
This course has 3 assessments. Each assessment is described in more detail in the sections below:
|
|
Assessment Name |
Due Date |
Involvement |
Weighting |
Learning Outcomes |
| 1 |
Research Proposal – Formative Task |
Monday of Week 5 by 5:00 pm |
Individual |
15% |
1, 2, 3, 4, 5 |
| 2 |
Research Proposal – Summative Task |
Monday of Week 11 by 5:00 pm |
Individual |
35% |
1, 2, 3, 4, 5 |
| 3 |
Final Examination |
Formal Examination Period |
Individual |
50% |
1, 2, 3 |
Assessment 1 – Research Proposal – Formative Task
Assessment Type
Written Assignment
Purpose
This is a formative task designed to help students to develop their research proposals. In this formative task, students need to produce a draft proposal for Assessment 2. The purpose of this task is to provide specific, timely comments and suggestions so that students can ‘polish’ their draft research proposals before submitting their finalised proposals for Assessment 2. Students will work independently to communicate professional knowledge and experience in written format.
Description
This is an individual assignment.
Weighting
15%
Length
1250 words (maximum)
Due Date
Monday of Week 5 by 5:00 pm
Submission Method
Online – via Turnitin
Assessment Criteria
The research proposal will be assigned a mark based on the assessment criteria to be available on the course CANVAS site.
Return Method
Online
Feedback Provided
Online via Turnitin
Assessment 2 – Research Proposal – Summative Task
Assessment Type
Written Assignment
Purpose
The purpose of this assignment is for students to demonstrate their ability to construct a research proposal that identifies a research aim, articulates literatures and theories that are relevant to the research aim, and elaborates a suitable research design. This proposal needs to meet academic standards. In developing the proposal, students can interpret, discuss, and evaluate competing accounting theories and concepts and apply these theories and concepts to analyse current accounting issues in society and organisations. In addition, the selection of research topics/aims allows students to demonstrate their in-depth understanding of Australian and international conceptual frameworks and accounting standards. Students will work independently to communicate professional knowledge and experience in written format.
Description
This is an individual assignment.
Weighting
35%
Length
2500 words (maximum)
Due Date
Monday of Week 11 by 5:00 pm
Submission Method
Online – via Turnitin
Assessment Criteria
The research proposal will be assigned a mark based on the assessment criteria to be available on the course CANVAS site.
Return Method
Online
Feedback Provided
Online via Turnitin
Assessment 3 - Final Examination
Assessment Type
Formal Examination
Purpose
The formal exam tests student’s capacity to consolidate and apply accounting theory and knowledge.
Description
Responses to contextual questions for all topics covered in the course.
This course has an OPEN BOOK examination. Any hardcopy materials, including a thesaurus, a dictionary, or a translation dictionary are permitted in the examination.
Weighting
50%
Length
120 minutes
Due Date
Formal Exam Period
Submission Method
Formal Examination
Assessment Criteria
The criteria will vary with the type of question asked. The essays will be assessed by whether they present an argument or evaluation in a logical structured and coherent manner. The short general knowledge questions will be assessed by the relevance of answers to individual questions asked.
Return Method
Not Returned
Feedback Provided
No Feedback. Examination scripts will not be returned to students. Final examination scripts will be made available for review by students, upon request, in a controlled and monitored setting. Students are required to make requests, directly to the relevant course coordinator. Completed examination scripts are kept by the Newcastle Business
School for a period of six (6) months only, from the relevant fully graded date. Requests made after the six (6) month period cannot be considered.
SYLLABUS
Course Content
Topics in the course include but are not limited to the following:
1. Accounting Theory
2. The Conceptual Framework
3. Standard Setting and Regulation
4. International Accounting
5. Measurement
6. Disclosure
7. Earnings Management
8. Capital Markets Research
9. Accounting Research
Course Materials
Required Text:
Rankin, M., Ferlauto, K., McGowan, S., & Stanton, P. (2022). Contemporary Issues in
Accounting, 3rd ed., Australia: Wiley
ISBN: 978-0-730-39782-3
Please refer to the course CANVAS site for details of additional recommended texts.
SCHEDULE
|
Week |
Topic |
Class Preparation |
Workshop Activities |
| 1 |
Assessments 1& 2: How to Develop a Research Proposal? |
Prescribed readings, exercises and tasks listed on CANVAS. |
|
| 2 |
Contemporary Issues in Accounting |
Rankin et al. Chapter 1
Prescribed readings, exercises and tasks listed on CANVAS.
|
|
| 3 |
Theories in Accounting |
Rankin et al. Chapter 4
Prescribed readings, exercises and tasks listed on CANVAS.
|
|
| 4 |
Theories in Accounting |
Rankin et al. Chapter 4
Prescribed readings, exercises and tasks listed on CANVAS.
|
|
| 5 | The Conceptual Framework for Financial Reporting |
Rankin et al. Chapter 5
Prescribed readings, exercises and tasks listed on CANVAS.
|
Assessment 1 due:
Monday of Week 5 by 5:00 pm
|
| 6 |
Standard Setting |
Rankin et al. Chapter 2
Prescribed readings, exercises and tasks listed on CANVAS.
|
|
| 7 |
International Accounting |
Rankin et al. Chapter 11
Prescribed readings, exercises and tasks listed on CANVAS.
|
|
| 8 |
Measurement |
Rankin et al. Chapter 3
Prescribed readings, exercises and tasks listed on CANVAS.
|
|
| 9 |
Fair Value Accounting |
Rankin et al. Chapter 12
Prescribed readings, exercises and tasks listed on CANVAS.
|
|
| 10 |
Products of the Accounting System |
Rankin et al. Chapter 13
Prescribed readings, exercises and tasks listed on CANVAS.
|
|
| 11 |
Earnings Management |
Rankin et al. Chapter 9
Prescribed readings, exercises and tasks listed on CANVAS.
|
Assessment 2 due:
Monday of Week 11 by 5:00 pm
|
| 12 |
Capital Market Research and Accounting |
Rankin et al. Chapter 8
Prescribed readings, exercises and tasks listed on CANVAS.
|
|
| 13 |
Course Review |
Prescribed readings, exercises and tasks listed on CANVAS. |
|