Advanced Accounting
ACCOUNTING THEORIES
1. What is the difference between a positive theory of accounting and a normative theory of accounting?
2. What do we mean when we say that ‘theories are abstractions of reality’? Do you agree that theories of accounting are necessarily abstractions of reality? 3. Identify and explain 5 different criteria we might use to establish a theory as being suitable for use in our research. 4. Is the study of financial accounting theory a waste of time for accounting students? Explain your answer. (Use essay format) 5. What is your understanding of the term ‘research’? Explain the role of research and how it relates to theory. (Use essay format)
CONCEPTUAL FRAMEWORK 1. What is a conceptual framework of accounting? 2. What is the difference between an accounting standard and a conceptual framework of accounting? 3. What advantages or benefits have been advanced by standard setters to support the development of conceptual framework project? Do you agree in practice such benefits will be achieved? 4. The IASB/AASB Conceptual Framework states that the fundamental qualitative characteristics of useful information are relevance and representational faithfulness. Must both of these qualitative characteristics be satisfied before particular information is included in a final report? Explain your answer. 5. Prepare 2 page summary of Hines (1989) reading 1. 6. Case Study 2.3. The case study questions are from our text book: Rankin, M,
Stanton, P, McGowan, S, Ferlauto, K & Tilling, M 2012, Contemporary issues in accounting, John Wiley & Sons Australia. 7. How does the conceptual framework relate to accounting theory, and is the conceptual framework achieving its purpose? 8. What is decision usefulness and why is it such an important theory? MEASUREMENT ISSUES, THEORY OF DECISIN USEFULNESS, DEBATE ON FAIR
VALUE
1. What does ‘measurement’ mean from an accounting perspective and why
1. What is the difference between a positive theory of accounting and a normative theory of accounting?
2. What do we mean when we say that ‘theories are abstractions of reality’? Do you agree that theories of accounting are necessarily abstractions of reality? 3. Identify and explain 5 different criteria we might use to establish a theory as being suitable for use in our research. 4. Is the study of financial accounting theory a waste of time for accounting students? Explain your answer. (Use essay format) 5. What is your understanding of the term ‘research’? Explain the role of research and how it relates to theory. (Use essay format)
CONCEPTUAL FRAMEWORK 1. What is a conceptual framework of accounting? 2. What is the difference between an accounting standard and a conceptual framework of accounting? 3. What advantages or benefits have been advanced by standard setters to support the development of conceptual framework project? Do you agree in practice such benefits will be achieved? 4. The IASB/AASB Conceptual Framework states that the fundamental qualitative characteristics of useful information are relevance and representational faithfulness. Must both of these qualitative characteristics be satisfied before particular information is included in a final report? Explain your answer. 5. Prepare 2 page summary of Hines (1989) reading 1. 6. Case Study 2.3. The case study questions are from our text book: Rankin, M,
Stanton, P, McGowan, S, Ferlauto, K & Tilling, M 2012, Contemporary issues in accounting, John Wiley & Sons Australia. 7. How does the conceptual framework relate to accounting theory, and is the conceptual framework achieving its purpose? 8. What is decision usefulness and why is it such an important theory? MEASUREMENT ISSUES, THEORY OF DECISIN USEFULNESS, DEBATE ON FAIR
VALUE
1. What does ‘measurement’ mean from an accounting perspective and why