General Information
This subject develops knowledge of contemporary accounting theory and associated research and how they contribute to the development of the accounting environment and accounting practice. The subject focuses on accounting regulation, reporting practice and the usefulness of accounting information. Emphasis is given to the relevance of accounting theory to practice.
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Details
Academic unit: Bond Business School Subject code: ACCT71-303 Subject title: Accounting Theory and Application Subject level: Postgraduate Semester/Year: September 2018 Credit points: 10.000 -
Delivery & attendance
Timetable: https://bond.edu.au/timetable Delivery mode: Standard Workload items: - Seminar: x12 (Total hours: 24) - Seminar 1
- Seminar: x12 (Total hours: 24) - Seminar 2
- Personal Study Hours: x12 (Total hours: 72) - Recommended study time & reviewing materials
Attendance and learning activities: Attendance at all class sessions is expected. Students are expected to notify the instructor of any absences with as much advance notice as possible. -
Resources
Prescribed resources: Books
- Deegan, C. (2016). Financial Accounting. 8th Ed, Australia McGraw-Hill, Sydney
iLearn@Bond & Email: iLearn@Bond is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student. To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
| Academic unit: | Bond Business School |
|---|---|
| Subject code: | ACCT71-303 |
| Subject title: | Accounting Theory and Application |
| Subject level: | Postgraduate |
| Semester/Year: | September 2018 |
| Credit points: | 10.000 |
| Timetable: | https://bond.edu.au/timetable |
|---|---|
| Delivery mode: | Standard |
| Workload items: |
|
| Attendance and learning activities: | Attendance at all class sessions is expected. Students are expected to notify the instructor of any absences with as much advance notice as possible. |
| Prescribed resources: | Books
|
|---|---|
| iLearn@Bond & Email: | iLearn@Bond is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student. To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au |
Enrolment requirements
| Requisites: |
Pre-requisites:Co-requisites:There are no co-requisites |
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| Assumed knowledge: |
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge.
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| Restrictions: |
Nil |
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Demonstrate knowledge of financial accounting theory.
- Apply accounting standards for recognising, measuring and reporting transactions and balances.
- Critically apply accounting theory and research to accounting regulation and practice.
- Demonstrate the ability to conduct research and produce empirical evidence to test accounting theory.
- Demonstrate the ability to deliver a logically constructed presentation using appropriate visual aids and other media.
- Demonstrate the ability to provide feedback to peers and adapt to feedback from peers.
Generative Artificial Intelligence in Assessment
The University acknowledges that Generative Artificial Intelligence (Gen-AI) tools are an important facet of contemporary life. Their use in assessment is considered in line with students’ development of the skills and knowledge which demonstrate learning outcomes and underpin study and career success. Instructions on the use of Gen-AI are given for each assessment task; it is your responsibility to adhere to these instructions.
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Assessment details
Type Task % Timing* Outcomes assessed Paper-based Examination (Limited Open)^ Comprehensive Final Examination 50.00% Final Examination Period 1,2,3 Written Report Empirical Analysis, Report and Research Proposal. 20.00% Week 11 1,2,3,4,5 *Peer Review Professional feedback on peers’ oral presentations 15.00% Ongoing 1,2,6 Project Report Professional Development Assignment - Select, research, evaluate, and orally present a contemporary accounting issue provided by your instructor. 5.00% In Consultation 1,2,3,4,5 Project Report Professional Development Assignment - Select, research, evaluate and report on a contemporary accounting issue provided by your instructor. (Due the week following oral presentation) 10.00% In Consultation 1,2,3,4 - ^ Students must pass this assessment to pass the subject
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
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Assessment criteria
Assessment criteria
High Distinction 85-100 Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. Distinction 75-84 Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. Credit 65-74 Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. Pass 50-64 Usually awarded to students whose performance meets the requirements set for work provided for assessment. Fail 0-49 Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
| Type | Task | % | Timing* | Outcomes assessed |
|---|---|---|---|---|
| Paper-based Examination (Limited Open)^ | Comprehensive Final Examination | 50.00% | Final Examination Period | 1,2,3 |
| Written Report | Empirical Analysis, Report and Research Proposal. | 20.00% | Week 11 | 1,2,3,4,5 |
| *Peer Review | Professional feedback on peers’ oral presentations | 15.00% | Ongoing | 1,2,6 |
| Project Report | Professional Development Assignment - Select, research, evaluate, and orally present a contemporary accounting issue provided by your instructor. | 5.00% | In Consultation | 1,2,3,4,5 |
| Project Report | Professional Development Assignment - Select, research, evaluate and report on a contemporary accounting issue provided by your instructor. (Due the week following oral presentation) | 10.00% | In Consultation | 1,2,3,4 |
- ^ Students must pass this assessment to pass the subject
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
Assessment criteria
| High Distinction | 85-100 | Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. |
|---|---|---|
| Distinction | 75-84 | Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. |
| Credit | 65-74 | Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. |
| Pass | 50-64 | Usually awarded to students whose performance meets the requirements set for work provided for assessment. |
| Fail | 0-49 | Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. |
Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Study Information
Submission procedures
Students must check the iLearn@Bond subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Academic Integrity
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Bond University utilises Originality Reporting software to inform academic integrity.Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
Accessibility and Inclusion Support
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
Additional subject information
A peer-evaluation system will be used in this subject to help determine the individual marks for all group assessments. As part of the requirements for Business School quality accreditation, the Bond Business School employs an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Subject curriculum
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Introduction to Accounting Theory
An introduction to accounting theory and the value of developing our "Theory Toolbox".
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Conceptual Framework: Normative Theory of Accounting
An overview of the objectives and use of normative accounting theory as a guide for professional standards of practice. Also examines the information characteristics and measurement of supporting evidence.
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Positive Accounting Theory: Positive Theory of Accounting
An overview of positive accounting theory in general, and specifically, Positive Accounting Theory (PAT), used to explain and predict accounting practice. What are the main elements of agency theory, contracting cost theory and how do they help us as accounting professionals.
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Fair Value Measurement
What is fair value? How did the concept of fair value as an alternative or complement to historical cost develop? How does fair value fit with the conceptual framework, standards and how might level 1-3 evidence be opportunistically used?
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Intangible Assets
Applies the accounting standard to identify, recognise and measure a range of intangible assets. Consider normative and agency theories relating to the accounting treatment for intangible assets.
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Impairment of Assets
Applies the accounting standard to identify an impaired asset, measure the recoverable amount, recognise and measure an impairment loss. Applies normative and agency theories in recognising and accounting for impairment of assets.
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Employee Benefits & Share-Based Payments
Applies the accounting standard to recognise and measure a range of short-term, longterm employee benefits, and share-based payments. Applies normative and agency theories in recognising and accounting for employee benefits and share payments.
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Empirical Analysis Project Methodology
Focus is on event study methodology to test hypothesised information disclosure impact on users. What is the methodology and how can we employ it to test the impact of contemporary reporting issues.
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Disclosure Issues
Covers various accounting standards related to financial reporting and disclosure, including, measuring and disclosing earnings per share, disclosing related party transactions and outstanding balances, operating segments, and voluntary disclosure of non-GAAP earnings. Applies normative and agency theories in recognising and accounting for disclosure, including disclosure of non-GAAP earnings.
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Financial Instruments
Applies the accounting standard for the financial reporting of financial assets and financial liabilities. Applies normative and agency theories to the recognition and accounting for financial instruments.
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Foreign Operations & Currency Issues
Applies the accounting standard for accounting for transactions and balances in foreign currencies, and translation of results and financial position into a presentation currency. Applies normative and agency theories in recognising and accounting for foreign operations and currency issues.