ACC 3116 Financial Accounting Theory

STAFFING:

REQUISITES:

SYNOPSIS:

This course introduces students to the theory that is integral to financial accounting practice. Using established accounting theories, the factors or incentives that exist for preparers of financial reports are investigated. These factors require consideration when making financial reporting decisions or evaluating the decisions of others. The primary objective of this course is to enhance students' awareness of the issues surrounding decision making in relation to financial reporting practice. This includes an investigation of the popular theories and evidence in regard to financial reporting. The financial reporting issues addressed include the choice of accounting methods, voluntary disclosures, environmental performance reporting and the regulation of financial reporting.

OBJECTIVES:

The course objectives define the student learning outcomes for a course. The assessment item(s) that may be used to assess student achievement of an objective are shown in parentheses after each objective. On successful completion of this course, students should be able to:

1. demonstrate effective written communication skills to a tertiary academic standard (as specified in Communication skills handbook for accounting) (assignment 1, assignment 2, examination)
2. demonstrate the ability to undertake independent research outside the prescribed course materials and communicate those research findings in assessment tasks (assignment 1, assignment 2)
3. explain how the development and application of accounting theories enhances decision making in accounting and identify the factors to consider when making or evaluating those decisions (assignment 1, assignment 2, examination)
4. critically evaluate conceptual framework projects and different accounting models with respect to the fundamental problem of financial reporting (assignment 1, assignment 2, examination)
5. evaluate the influence of accounting information on investor behaviour and share prices using the empirical evidence from capital markets research (assignment 2, examination)
6. outline, apply and evaluate the accounting theories that are used to explain and predict accounting practices (assignment 2, examination)
7. outline the contribution that behavioural research has made towards understanding the role of accounting information and the influence of accounting information on behaviour and decision processes (assignment 2, examination)
8. assess the construction and application of accounting theories from an ethical perspective (assignment 2, examination)
9. critically evaluate each of the accounting theories and research methods covered in this course and make a determination as to their usefulness to accounting practice (examination)
10. apply the insights gained from the theories and evidence presented in this course to the issue of whether the reporting of accounting information should be regulated (examination).

TOPICS:

TEXT and MATERIALS required to be PURCHASED or accessed:

ALL textbooks and materials are available for purchase from USQ BOOKSHOP (unless otherwise stated). Orders may be placed via secure internet, free fax 1800642453, phone 07 46312742 (within Australia), or mail. Overseas students should fax +61 7 46311743, or phone +61 7 46312742. For costs, further details, and internet ordering, use the 'Textbook Search' facility at http://bookshop.usq.edu.au click 'Semester', then enter your 'Course Code' (no spaces).

Summers, J & Smith, B 2006, Communication skills handbook: how to succeed in written and oral communication, 2nd edn, John Wiley & Sons, Milton, Queensland OR Fleet, W, Summers, J & Smith, B 2006, Communication skills handbook for accounting, 2nd edn, John Wiley & Sons, Milton, Queensland.

ACC3116 study package available from the USQ Bookshop.

REFERENCE MATERIALS:

These materials are an invaluable source of information for use in assignment preparation.

STUDENT WORKLOAD REQUIREMENTS:

ASSESSMENT DETAILS:

NOTES:

1.

The examination is scheduled to be held in the end-of-semester examination period. Students will be advised of the official examination date after the timetable has been finalised.

IMPORTANT ASSESSMENT INFORMATION

1. Attendance requirements:
   It is the students' responsibility to attend and participate appropriately in all activities (such as lectures, tutorials, laboratories and practical work) scheduled for them, and to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.
2. Requirements for students to complete each assessment item satisfactorily:
   To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)
3. Penalties for late submission of required work:
   If students submit assignments after the due date without (prior) approval of the examiner then a penalty of 20% of the total marks available for the assignment will apply for each working day late.
4. Requirements for student to be awarded a passing grade in the course:
   To be assured of receiving a passing grade a student must make a reasonable attempt in all of the weighted assessment items, achieve at least 50% in the examination, and achieve at least 50% of the total weighted marks available for the course.
5. Method used to combine assessment results to attain final grade:
   The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course.
6. Examination information:
   This is a restricted examination. Candidates are allowed access to specific materials during the examination. The only materials that candidates may use in the restricted examination for this course are: writing materials (non-electronic and free from material which could give the student an unfair advantage in the examination); translation dictionary (with the Examiner's approval, candidates may, take an appropriate non- electronic translation dictionary into the examination. This will be subject to perusal and, if it is found to contain annotations or markings that could give the candidate an unfair advantage, it may be removed from the candidate's possession until the appropriate disciplinary action is completed). Students are not permitted to take mobile telephones, pagers or other electronic means of communication into the examination room.
7. Examination period when Deferred/Supplementary examinations will be held:
   Any Deferred or Supplementary examinations for this course will be held during the next examination period.
8. University Regulations:
   Students should read USQ Regulations 5.1 Definitions, 5.6. Assessment, and 5.10 Academic Misconduct for further information and to avoid actions which might contravene University Regulations. These regulations can be found at the URL http://www.usq.edu.au/corporateservices/calendar/part5.htm. Students should also read the Faculty of Business Guide to Policies and Procedures of the Faculty which can be found at the URL http://www.usq.edu.au/handbook/current/buspolproc.html.

ASSESSMENT NOTES

OTHER REQUIREMENTS:

1. Learning resources: Prescribed texts and materials (see above); recommended reference materials (see above); printed Introductory Book*, Book/s of Selected Readings* and Study Book/s*; CD (compact disc)*; and course Website accessible via USQConnect. *part of the study package available from the USQ Bookshop.