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ACC401 Accounting Theory

Level: 4
Credit Units: 5 Credit Units
Presentation Pattern: EVERY JULY
ACC401 aims to provide a broad overview of the historical development of accounting theory and
examine why particular accounting procedures or practices are being adopted. Topics covered include
theory construction; theory validation; income concepts and its measurement; accounting and inflation;
and regulations of accounting.
Introduction to Financial Accounting Theory
Financial Reporting Environment and Regulation oI Financial Accounting
Normative Theories oI Accounting and Positive Accounting Theory
Accounting Ior Changing Prices
Social and Environmental Reporting
Capital Markets, Behavioural Research and Financial Reporting
Craig Deegan and Jeffrey Unerman: Financial Accounting Theory (Bundled ISBN:9781259073434)
McGraw Hill
ISBN-13: 9780077126735
: ACC401 Study Guide Jul13 (Bundled ISBN:9781259073434)
ISBN-13: 9781259072680
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Learning Outcome:
Discuss the importance oI theory to Iinancial accounting
Assess the role oI measurement in accounting
Prepare an overview oI the development and regulation oI accounting practice
Debate on the rationale Ior regulating accounting practice
Assess normative theories oI accounting and examine the conceptual Iramework projects
Discuss the origin and development oI positive accounting theory
Analyze the agency problem
Analyze accounting policy choice and the management oI accounting numbers Irom opportunistic
and efficiency perspectives
Compare various methods oI accounting Ior change prices including current purchasing power,
current cost accounting, and exit price accounting
Prepare an overview oI developments in social and environmental reporting
Assess the notions oI sustainability and sustainability reporting
Criticise and examine market eIIiciency and the inIormation content oI earnings
Appraise the impacts oI capital market research on the Iinancial reporting standard setting and
Prepare an overview oI behavioural research in accounting
Examine the decision making process and the use oI heuristics
Assess the use oI particular accounting inIormation items and the implications oI diIIerent Iorms oI
Assessment Strategies:
Continuous Assessment Component Weightage (%)
Sub-Total 50
Examinable Component Weightage (%)
Sub-Total 50
Weightage Total 100
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