This course introduces the structure and rationale of accounting models and theories. It provides students with conceptual arguments that dominate in today’s accounting thought and current debates and recent controversies about selected accounting issues. Students will critically examine the wider societal and economic implications of financial accounting.
- Appreciate what is meant by ‘accounting theory’ and the purpose it has served over time.
- Explain the importance of understanding ‘accounting theories.’
- Understand concepts supporting judgments on accounting information and the applicable legal and technical standards.
- Enhanced knowledge for research and judgment in order to develop or accept standards or accounting rules, throughout scientific methodology and focus on objectives.
- Form logical arguments based on contemporary theory.
- Understand the growth of accounting around the world and how cultural and other local factors impact on the development of accounting and Accounting Standards.
- Investigate the “one-size fits all” approach to development of IFRS Standards by the IASB.
- Analyze a range of issues that require analysis of the conceptual framework as it applies to accounting standards.