| Semester 1, 2020 On-campus Toowoomba | |
| Short Description: | Accounting Theory |
| Units : | 1 |
| Faculty or Section : | Faculty of Business, Education, Law and Arts |
| School or Department : | School of Commerce |
| Student contribution band : | Band 3 |
| ASCED code : | 080101 - Accounting |
| Grading basis : | Graded |
Staffing
Examiner:
Requisites
Pre-requisite: (ACC5200 or ACC5202) and ACC8000
Other requisites
Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at .
Rationale
This course answers the question 'why do we have to study theory?' to show how theories underpin everything we do in our lives but also the practice of accounting. Theories are just that, someone鈥檚 view of phenomena. So theories must be looked at with a critical eye, not taken on blindly. They can help us make decisions providing benefits including explaining current practice, providing some principles for taking decision actions and identifying problems so that we can improve our professional practice. Students may then be able to move from what we now do (positive theory) to what we would like to do (normative theory) making a contribution to the accounting profession in the form of ideas and recommendations for a better world.
Synopsis
This course develops the threshold learning outcomes in the areas of knowledge and application skills. Students are introduced to the theory that underpins financial and management accounting practice. Using established accounting theories, the factors or incentives that exist for preparers of financial reports are investigated. These factors require consideration when making financial reporting decisions or evaluating the decisions of others. The primary objective of this course is to overlay theory concepts and a framework to accounting practice from a critical perspective so students see the relevance of theory to practice. This includes an investigation of the popular theories and evidence in regard to financial reporting. The financial reporting issues addressed include the choice of accounting methods, voluntary disclosures, environmental performance reporting, behavioural accounting research and the regulation of financial reporting. Students will synthesise their learned knowledge of accounting from separate courses and take a critical look at theory and practice of accounting.
Objectives
On completion of this course students should be able to:
- integrate theoretical accounting knowledge particularly in the area of financial and management accounting at a professional level by developing an understanding of the purposes of various accounting theories to support accounting decisions;
- critically evaluate accounting theories and their relevance and influence on accounting practice and decision making;
- utilise problem solving, critical thinking and judgement skills and develop the ability to undertake independent research outside the prescribed course materials and communicate those research findings;
- critically review and evaluate the conceptual framework and regulatory environment in the context of accounting theory and practice.
Topics
| Description | Weighting(%) | |
|---|---|---|
| 1. | The conceptual framework and the regulatory environment | 20.00 |
| 2. | Theories of financial and management accounting | 50.00 |
| 3. | Investigate the relevance of integrating theoretical knowledge to accounting practice | 30.00 |
Text and materials required to be purchased or accessed
ALL textbooks and materials available to be purchased can be sourced from (unless otherwise stated). (https://omnia.usq.edu.au/textbooks/?year=2020&sem=01&subject1=ACC5216)
Please for alternative purchase options from USQ Bookshop. (https://omnia.usq.edu.au/info/contact/)
Reference materials
Student workload expectations
| Activity | Hours |
|---|---|
| Assessments | 20.00 |
| Directed 精东传媒app | 36.00 |
| Private 精东传媒app | 109.00 |
Assessment details
| Description | Marks out of | Wtg (%) | Due Date | Notes |
|---|---|---|---|---|
| ASSIGNMENT 1 | 100 | 20 | 22 Apr 2020 | (see note 1) |
| ASSIGNMENT 2 | 100 | 20 | 08 May 2020 | |
| ONLINE EXAM | 100 | 60 | End S1 | (see note 2) |
Notes
- This will be an online exam. Students will be provided further instruction regarding the exam by their course examiner via 精东传媒appDesk. The examination date will be available via UConnect when the Alternate Assessment Schedule has been released.
Important assessment information
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Attendance requirements:
It is the students' responsibility to attend and participate appropriately in all activities scheduled for them, and to study all material provided to them or required to be accessed by them, to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration. -
Requirements for students to complete each assessment item satisfactorily:
Due to COVID-19 the requirements for S1 2020 are: To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks for that item.
Requirements after S1, 2020:
To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.) -
Penalties for late submission of required work:
Students should refer to the Assessment Procedure (point 4.2.4) -
Requirements for student to be awarded a passing grade in the course:
Due to COVID-19 the requirements for S1 2020 are: To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.
Requirements after S1, 2020:
To be assured of receiving a passing grade a student must obtain at least 50% of the total weighted marks available for the course (i.e. the Primary Hurdle), and have satisfied the Secondary Hurdle (Supervised), i.e. the end of semester examination by achieving at least 40% of the weighted marks available for that assessment item.
Supplementary assessment may be offered where a student has undertaken all of the required summative assessment items and has passed the Primary Hurdle but failed to satisfy the Secondary Hurdle (Supervised), or has satisfied the Secondary Hurdle (Supervised) but failed to achieve a passing Final Grade by 5% or less of the total weighted Marks.
To be awarded a passing grade for a supplementary assessment item (if applicable), a student must achieve at least 50% of the available marks for the supplementary assessment item as per the Assessment Procedure (point 4.4.2). -
Method used to combine assessment results to attain final grade:
The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course. -
Examination information:
Due to COVID-19 the requirements for S1 2020 are: An Open Examination is one in which candidates may have access to any printed or written material and a calculator during the examination.
Requirements after S1, 2020:
This is a restricted examination. The only materials that candidates may use in the examination for this course are:- writing materials. These must be non-electronic and free from material which could give the student an unfair advantage in the examination.
- an unmarked non-electronic translation dictionary (but not technical dictionary). A student whose first language is not English may take a translation dictionary into the examination room. A translation dictionary with any handwritten notes will not be permitted. Translation dictionaries will be subject to perusal and may be removed from the candidate's possession until appropriate disciplinary action is completed if found to contain material that could give the candidate an unfair advantage.
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Examination period when Deferred/Supplementary examinations will be held:
Due to COVID-19 the requirements for S1 2020 are: The details regarding deferred/supplementary examinations will be communicated at a later date.
Requirements after S1, 2020:
Any Deferred or Supplementary examinations for this course will be held during the next examination period. -
精东传媒app Student Policies:
Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene 精东传媒app policies and practices. These policies can be found at .
Assessment notes
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Referencing in assignments:
Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at .