ACC8101 Contemporary Accounting Thought (FOBUS)

Units 1.0 (Accounting) Band 2

Students are required to have access to a personal computer, e-mail capabilities and Internet access to USQConnect. Current details of computer requirements can be found at http://www.usq.edu.au/business/aboutfob.htm

Synopsis

This course examines contemporary theories of accounting and focuses on their implications for accounting practice. The course introduces accounting decisions and examines the relationship between theory, research and practice. It introduces capital markets-based theories and associated research which examine the association between earnings announcements and share market rates of return. This area is important for an advanced understanding of the relevance of accounting reports for capital market participants, the prediction of future earnings, and the implication of earnings - price relationships for accounting standard setters. The course also examines the development of contract- based research and draws out its implications for professional accounting practices, and for the regulation of practices by professional accounting bodies and corporate regulators. Finally, the social and environmental implications of accounting are addressed. A review of current requirements to report on social and environmental issues is undertaken, together with a discussion of various theoretical perspectives which explain the accountability of business to members of society beyond just shareholders. The role of regulation in accounting is also examined.