"Accounting theory exam paper" Essays and Research Papers

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    QUESTION 1 a. Outline the objective and the principles of a theory that prescribes fair value accounting. Fair value accounting is to measure selected assets at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The objective of fair value accounting is linked with the objective of ‘decision usefulness’ of general purpose financial reporting. That is‚ to provide relevant information that

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    Following is an income statement calculated based on the different equity theories of accounting. Entity Theory Proprietary Theory Orthodox Unorthodox Residual Equity Theory Revenues $ 1‚000‚000 $ 1‚000‚000 $ 1‚000‚000 $ 1‚000‚000 Less: Operating Expenses Cost of goods sold $400‚000 $400‚000 $400‚000 $400‚000 Depreciation $100‚000 $100‚000 $100‚000 $100‚000 Salaries and Wages $200‚000 $200‚000 $200‚000 $200‚000

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    BKAF 3083 ACCOUNTING THEORY AND PRACTICE Individual Assignment 1 1. Explain 8 levels of conceptual framework Level | Elements | Explanation | 1.Border of discipline / authority | * Definition of financial reporting | It defines the financial record of the business activities. | 2. Subject | * Definition of the reporting entity | It defines the reporting entities where the users are dependent on their financial statements to make decision. | 3. Objective | * Objective | It is

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    Positive Accounting Theory

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    Compare and contrast normative and positive accounting approaches: Definition of PAT: Watts and Zimmerman (1986) defined Pat as a theory that seeks to explain and predicts particular phenomenon. It is concerned with explaining accounting practice. The three basic hypotheses as outlined by Watts and Zimmerman (1978) underlying PAT are: 1. Bonus plan hypothesis: The bonus plan hypothesis is that managers of firms with bonus plans are more likely to use accounting methods that increase current period reported

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    Accounting Theory Review

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    Module 1: Accounting under ideal conditions  Ideal conditions; certainty and uncertainty (including differences & similarities)‚ dividend irrelevancy‚ arbitrage‚ accretion of discount‚ abnormal earnings  RRA - SFAS69; weaknesses of RRA (relevant but not as reliable)  Historical Accounting Revisited mixed measurement model‚ (relatively reliable but lacks relevance)‚ revenue recognition‚ recognition lag  Relevance VS Reliability -> tradeoffs (Without ideal conditions‚ complete relevance &

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    Accounting Standards Board University of Phoenix Accounting Theory and Research Jun 13‚ 2009 Accounting Standards Board To address the increasing challenges of legislating those governs our society today‚ “countries all over the world have begun to outsource rulemaking to bodies consisting of people familiar with the subject. For that reason‚ policymakers rely on private entities to establish financial accounting and reporting standards” (Donald Kieso‚ 2003‚ Intermediate Accounting). The

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    DEVELOPMENT OF ACCOUNTING THEORY IN MALAYSIA LECTURER: DR. ROSMILA SENIK GROUP MEMBERS: AHMAD SABRI IZZAT BIN RAMLI 134918 ROSMALINDA BT ISMAIL 135047 MOHD SHUKRY BIN MD TAIB 134820 ILY IRYANI ISTIHAR 135272  Introduction Studies of accounting development in Malaysia more focus on the politics of

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    Accounting Theory Cga

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    Slide 1 ACCOUNTING THEORY & CONTEMORARY ISSUES (AT1) MODULE ONE Slide 2 ACCOUNTING UNDER IDEAL CONDITIONS Part 1 - Foundation items re the course Part 2 - Present value accounting under certainty Part 3 - Present value accounting under uncertainty Part 4 - Reserve recognition accounting Part 5 - Examination question examples Part 6 - Historical cost accounting Lecture by: Dr. A. L. Dartnell‚ FCGA Year 2009 - 2010 2 Slide 3 PART 1 Foundation Items re the Course Different Course

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    Accounting Theory Questions 1. what is positive accounting theory? how does it differ from normative accounting theory? what was/were the major dissatisfaction(s) with normative accounting theory which led to the development of a positive theory accounting? 2. Explain the meaning of an efficient market. what is meant by the following terms: weak-form efficiency‚ semistrong-form efficiency‚ strong-form efficiency? which form is the most important to accounting research? why? 3 Explain the important

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    reputation with the public (exacerbated by Credit Union advertisements etc). By making this voluntary disclosure to the public‚ ANZ is trying to "win over" customers by showing their concerns for the community. This is an example of Positive Accounting Theory (PAT) - a theory which attempts to explain and predict how groups in an organisation (eg. management‚ owners‚ creditors; stakeholders) will interact with one another. In this case‚ ANZ has made a voluntary social disclosure to the public (ie. its customers)

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