SOLUSI UNIVERSITY

FACULTY OF BUSINESS

DEPARTMENT OF ACCOUNTING

ACCT 472 -   ACCOUTING THEORY (3 Credits)

COURSE OUTLINE

 


Pre-requisite: ACCT 212

 

COURSE DESCRIPTION

This course is the review of accounting theory with an emphasis on the application of International Accounting Standards.  Accounting theory provides a theoretical framework for understanding accounting and gives reasons for some accounting practices an accountant engages in.

COURSE OBJECTIVES

The course is designed to achieve the following objectives:

·         It is intended to give students an overview to the rigors of the professional examinations and theoretical background necessary for them to understand the changes taking place in an accounting reporting, procedures and practices.

·         To expose the students to application of Christian Ethical Accounting theories and practices.

 

COURSE PROCEDURES AND REQUIREMENTS

1.         Attendance in all scheduled class appointments is mandatory.  Students are expected to be in class all the time.

2.         Students should be punctual in all classes.

3.         Movement to be minimal but necessary.

4.         Each student is encouraged to participate in the class activities meaningfully.

5.         Students are encouraged to work in small groups, but should refrain from duplicating or photocopying other student’s work.  All assignments must reflect each student’s work and ingenuity.

 

Course Contents

1.      Introduction to financial accounting theory.

2.      The financial reporting environment

3.      The regulation of financial accounting

4.      International Accounting

5.      Normative theories of accounting - Changing prices.

6.      Normative theories of accounting - Conceptual Framework.

7.      Positive Accounting Theory.

8.      System Oriented Theories

9.      Social and Environmental External Reporting

 

EXAMINATION AND GRADING SYSTEM

i)          There will be one mid-term exam and a comprehensive final exam.  In addition there will be quizzes (tests) and assignments sometimes during or at the end of a chapter.

            Quizzes may be announced or unannounced.

 

ii)         The final grade will be based on the following weights:

            Assignments                            10%

            Tests/Quizzes                          10%

            Mid-Term                                30%

            Final Exam                              50%

 

iii)        The grade scale will be as follows:

            A         90 – 100%                               C+       60 – 64%

            A-        80 – 89%                                 C         50 – 59%

            B+       75 – 79%                                 D         45 – 49%

            B         70 – 74%                                 F          0 – 44%

 

RECOMMENDED TEXTBOOKS

i)          Craig Deegan (2006) Financial Accounting Theory, Mcgraw Hill Irwin, Sydney< Australia.

ii)         Frank Wood, Sangster (2007) Business Accounting Volume 2. UK.

iii)        Nobes Christopher and Robert Parker (2002) Comparative International Accounting 6th Edition Pearson Education Singapore.

iv)        Clare Roberts, Pauline Weetman and Paul Gordon (2005) International Financial Reporting A comparative Approach.  Prentice Hall.  Harlow England.

v)         David Alexander and Anne (2001) Financial Reporting Thomson.  Ausralia.

vi)        M W E Glautier and B Underdown (2001). Accounting Theory and Practice. Pearson Education Limited, Harlow, England.