Students will reflect on the connection between knowledge concepts for courses they are enrolled for the current semester and how those have been, or could be, applied in the workplace.
Course Description
This course is an intensive study of recent developments, research, and literature in accounting
theory. A focus of this course is critical analysis of current and emerging issues in accounting
practice and theory as reflected in accounting literature.
Course Objectives
Upon completion of this course:
To develop a comprehensive understanding of the development of accounting theory
To understand the conceptual framework of accounting theory
To identity the different elements between theory under a GAAP versus IFRS basis
To understand the research methodology and theories on the use of accounting information
Upon completing chapter 1 you should be able to:
1. Describe the fundamental basis for accounting in the U.S.
2. Describe the role that ethics plays in accounting
3. Discern the basic difference between U.S. GAAP and international accounting standards
Upon completion of chapter 2 you should be able to:
1. Identify early accounting theories
2. Describe the conceptual framework of accounting
3. Discern between principles-based versus rules-based accounting standards
4. Describe what international convergence means
Week 3 Objectives
Upon completion of chapter 3 you should be able to:
1. Describe the basic difference between IFRS and GAAP
2. Describe the roles of IASC and IOSCO
3. Identify the premise behind IASB-FASB convergence
4. Identify standards overload
Upon completing chapter 4 you should be able to:
1. Identify basic research methodologies
2. Describe the relationship between accounting research and practice
3. Identify the role of accounting information
Upon completing chapter 5 you should be able to:
1. Describe the nature of income
2. Determine the basis for revenue recognition
3. Describe the concept of matching
4. Describe sustainability reporting
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