Preview

accounting theory

Powerful Essays
Open Document
Open Document
1988 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
accounting theory
3101AFE Accounting Theory and Practice
Tutorial Questions for Tutorials 1- 6: Semester 2 2014
TUTORIAL 1 - Semester 2 2014

Deegan Topic 1: Introduction to financial accounting theory

QUESTION 1 - Question 1.8:
What is the difference between developing a theory by induction and developing a theory by deduction?

QUESTION 2 - Question 1.9:
Is the study of financial accounting theory a waste of time for accounting students? Explain your answer.

QUESTION 3 - Question 1.26:
Would you reject as ‘insignificant and useless’ a positive theory of accounting on the basis that in a particular research study the results derived failed to support the hypotheses and the related theory? Explain your answer.

QUESTION 4 – Question 1.27 (NEW):
The International Accounting Standards Board has a number of roles, including formulating accounting standards and developing a conceptual framework. Is the work they do in developing an accounting standard or the conceptual framework normative or positive in nature?

QUESTION 5 - Question 1.33 (NEW):
In this chapter we provided quotes from Gray, Owen and Adams (2010), in which they discuss an apparent herding phenomenon that seems to be occurring in respect of the selection and use of particular theories. They state, ‘there has been a strange herding tendency, especially around legitimacy theory’, as well as stating that they ‘also have a sneaking feeling that institutional theory may be coming up fast as the next theory around which to herd’.

What do they mean by this apparent practice of ‘herding’, and what are some possible advantages and disadvantages that are related to this practice?

QUESTION 6 – Question 1.35 (NEW):
Do we really need financial accounting theory if all we are interested in doing is developing accounting standards?

TUTORIAL 2 - Semester 2 2014

Deegan Topics 2 and 3:
The financial reporting environment and Regulation of financial accounting

QUESTION 1 - Question 2.3:
Do you
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Finance and Term Bank Deposit
    • 437 Words
    • 2 Pages

    Finance and Term Bank Deposit

    Question 2:Accounting is described as the language of business, as everybody is affected by the business world, should everybody be obliged to study accounting?…

    • 437 Words
    • 2 Pages
    Good Essays
    Read More
  • Powerful Essays

    Pre-Modern Teachings vs. Auto-Modern Teachings
    • 3617 Words
    • 15 Pages

    Pre-Modern Teachings vs. Auto-Modern Teachings

    Before an accurate evaluation can be made, it is noteworthy to consider the particular nature of accounting lessons in comparison to other Liberal Arts. First of all, accounting is a subject of study that is heavily rules-based; meaning, students are tested on their knowledge of an already set accounting principle. In other words, since accounting entitles a sense of public obligation to be consistent and truthful to the doctrines there is often only one correct answer and any deviance from this is deemed wrong. This holds especially true in the profession of accounting, for a deviation in procedure can be infinitely costly and highly fraudulent. Consequently accounting as a subject requires a modern culture of education, in which there is less space for individual opinion or much discussion in…

    • 3617 Words
    • 15 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    ACC 504 Course Outline Winter 2015 All Sections

    • 4714 Words
    • 18 Pages

    ACC 504 Course Outline Winter 2015 All Sections

    This course begins with a conceptual review of accounting principles, and reviews issues studied in earlier courses from the point of view of the effects that accounting choices and “creative” accounting have on financial statements. This course emphasizes the role of communication in the accounting profession. Critical thinking and problem solving skills are developed through extensive case analysis.…

    • 4714 Words
    • 18 Pages
    Powerful Essays
    Read More
  • Good Essays

    Annotated Bibliography
    • 1272 Words
    • 6 Pages

    Annotated Bibliography

    In this article, Miller et al. concern about the understanding of the historical foundation of accounting practice by investigating how theories of costing and budgeting were constructed in the first thirty years of the 20th century. In addition, the authors suggest several radical factors of theoretical understanding of accounting in relation to the other social and organizational practices.…

    • 1272 Words
    • 6 Pages
    Good Essays
    Read More
  • Better Essays

    Acc 541 Accounting Standards Board Paper
    • 1115 Words
    • 5 Pages

    Acc 541 Accounting Standards Board Paper

    The field of accounting is constantly evolving. This is true not only for the theory of accounting itself but also the entities that govern its theory and practice. Presently, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are faced with some of the biggest challenges to date. To understand the significance of these two boards, it is necessary to understand their histories, relations between the boards, and the standards that they set. Also how the knowledge of these boards and the field they lead, gained through the masters of science in accountancy (MSA) program, prepare students for a career in accounting.…

    • 1115 Words
    • 5 Pages
    Better Essays
    Read More
  • Good Essays

    Accounting - Chapter 1
    • 1205 Words
    • 5 Pages

    Accounting - Chapter 1

    Accounting matters because it has economic consequences (choosing certain accounting method can result in gaining more money or losing more money – which one do you choose).…

    • 1205 Words
    • 5 Pages
    Good Essays
    Read More
  • Good Essays

    Determining Financial Viability
    • 683 Words
    • 3 Pages

    Determining Financial Viability

    Finances and accounting are very similar and work together in a financial organization yet they are different in many ways. This essay is an overview between the differences between the two and how they operate together to determine financial viability.…

    • 683 Words
    • 3 Pages
    Good Essays
    Read More
  • Better Essays

    Personnel Five-Year Development Plan: How to Be a Qualified Accountant
    • 1345 Words
    • 6 Pages

    Personnel Five-Year Development Plan: How to Be a Qualified Accountant

    In the modern society, the developing speed of economy is very fast, which means the world is becoming a business world. As a result of this trend, the role of financial management is getting more and more important. That is why more and more people and companies require accountants with good accounting skills, especially in Canada, in which the tax is so complicated that almost all the peolple need an accountant to take responsbility for their tax.…

    • 1345 Words
    • 6 Pages
    Better Essays
    Read More
  • Better Essays

    Intermediate Accounting I Final Paper
    • 1757 Words
    • 8 Pages

    Intermediate Accounting I Final Paper

    In 1973, the Financial Accounting Standards Board (FASB) was created and their mission is “to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors, and users of financial information.” (FASB.org, 2009a). The FASB is a private, not-for-profit organization whose primary purpose is to develop generally accepted accounting principles (GAAP) within the United States. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the U.S. Therefore, the FASB plays a vital and important role in protecting the financial well being and the overall stability of our economy.…

    • 1757 Words
    • 8 Pages
    Better Essays
    Read More
  • Good Essays

    Accounting Theory
    • 1237 Words
    • 5 Pages

    Accounting Theory

    If some research is undertaken that provides evidence that capital markets do not always behave in accordance with the Efficient Market Hypothesis, does this invalidate research that adopts an assumption that capital markets are efficient?…

    • 1237 Words
    • 5 Pages
    Good Essays
    Read More
  • Better Essays

    Five Business Disciplines
    • 1016 Words
    • 5 Pages

    Five Business Disciplines

    Accounting is one of the five business disciplines that we have talked about in business 101 and I think that is the major that I am going to pursue. “Accounting is the measurement, statement, or provision of assurance about financial information primarily used by lenders, managers, investors, tax authorities and other decision makers to make resource allocation decisions between and within companies, organizations, and public agencies” (Wikipedia). Accounting is a key business discipline underpinning decision making in all organizations from the largest business to the smallest charity. An understanding of the subject would be very useful to anyone contemplating a career in management as well as to those who intend to pursue a career in accounting. In college, students need to decide on a more specific field of accounting. An accountant has many choices as to what particular field of accounting to specialize in depending on the financial information they want to analyze and how it is done. Financial accountants, tax accountants and internal auditors are all accountants in general, but require different training and work methods. A financial accountant records economic data and periodically prepares reports that show profit and other financial information of a company using the generally accepted accounting principles. The need for financial accountants is to reduce agent problems by monitoring agents’ performance and reporting the results to interested users. Financial accountants are basically used to prepare accounting information for people outside the organization or they are not involved in the day to day running of the company. A tax accountant prepares yearly tax returns for individual clients. For businesses, the tax accountant must provide data for the company’s tax returns. In many places, accountants must abide by national tax laws and regulations, but no requirement is in the US. Auditors are sponsored by the Institute of Internal Auditors…

    • 1016 Words
    • 5 Pages
    Better Essays
    Read More
  • Good Essays

    International Financial Reporting Standards and Accounting Standards
    • 388 Words
    • 2 Pages

    International Financial Reporting Standards and Accounting Standards

    3. Which of the following statements is true about the regulation of accounting practice in its early period of development?…

    • 388 Words
    • 2 Pages
    Good Essays
    Read More
  • Powerful Essays

    Accounting Theory
    • 1322 Words
    • 6 Pages

    Accounting Theory

    This report will identify a crisis facing BP company, the Gulf of Mexico spill, and investigate how the organization response to the society. In this report, it will use Legitimacy theory to explain BP’s response to this event. Legitimacy theory can be treated as a explanation for voluntary corporate disclosures in annual report. As (Dowling&Pfeffer, 1975) says a corporation must act in congruence with norms and society value.…

    • 1322 Words
    • 6 Pages
    Powerful Essays
    Read More
  • Good Essays

    Difference Between Fasb and Iasb Essay Example
    • 767 Words
    • 4 Pages

    Difference Between Fasb and Iasb Essay Example

    The FASB (Financial Accounting Standards Board) and IASB (International Accounting Standards Board) are making progress towards convergence in setting better accounting standards. However, there exist some differences between their standard setting processes. After weighing the pros and cons, I suggest that FASB standard setting approach would be a better direction.…

    • 767 Words
    • 4 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Social Learning Theory
    • 646 Words
    • 3 Pages

    Social Learning Theory

    B. Other studies of behavior to show the difference in the theory vs. no change in behavior…

    • 646 Words
    • 3 Pages
    Satisfactory Essays
    Read More

Related Topics