ACCTING 3500 - Accounting Theory III
North Terrace Campus - Semester 1 - 2015
General Course Information
Course Code ACCTING 3500 Course Accounting Theory III Coordinating Unit Business School Term Semester 1 Level Undergraduate Location/s North Terrace Campus Units 3 Contact Up to 3.5 hours per week Available for Study Abroad and Exchange Y Prerequisites ACCTING 2501 Course Description Topics may include theory development in accounting, normative accounting theories, positive accounting theory, accounting regulation, ethics in accounting, behavioural accounting, social and environmental accounting issues, and professional judgement in accounting.
Course Coordinator: Dr Bryan Howieson
Associate Professor Janice Loftus
Location: 13:10, Level 13, 10 Pulteney Street (Nexus 10)
Telephone: 8313 1024
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning OutcomesThe objectives of Accounting Theory III are that students should:
- Develop an understanding of accounting policy choices available or under consideration for application within International Financial Reporting Standards;
- Be able to think critically about underlying theories, concepts, assumptions and arguments in accounting;
- Be able to apply understanding of accounting principles and knowledge of accounting techniques to solve financial reporting problems;
- Be able to effectively utilise oral and written communication skills to further learning and impart understanding of accounting issues to others; and
- Appreciate the importance of ethical reasoning and social and cultural considerations in professional accounting practice.
University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised. (a) Develop an understanding of accounting policy choices available or under consideration for application within International Financial Reporting Standards. The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner. (b) Be able to think critically about underlying theories, concepts, assumptions and arguments in accounting. An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. (c) Be able to apply understanding of accounting principles and knowledge of accounting techniques to solve financial reporting problems. Skills of a high order in interpersonal understanding, teamwork and communication. (d) Be able to effectively utilise oral and written communication skills to further learning and impart understanding of accounting issues to others. An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities. (e) Appreciate the importance of ethical reasoning and social and cultural considerations in professional accounting practice.
Required ResourcesRankin, M., P. Stanton, S. McGowan, K. Ferlauto and M. Tilling, Contemporary Issues in Accounting, 2012, John Wiley and Sons, Australia. AND
Accounting/Financial Reporting Handbook
Financial Reporting Handbook 2015, John Wiley & Sons, Australia (ICAA Handbook).*
* E-book is available.
Please note: The 2015 Handbook will also be very helpful to those studying Corporate Accounting III.
At relevant sections of the course additional prescribed readings elaborate on, or supplement, items in the prescribed texts. These readings are provided via links on MyUni or are available in the Barr Smith library.
Recommended ResourcesIf you are seeking additional reading in relation to assumed knowledge you should refer to:
- Your Financial Accounting II textbook
- Deegan, C. (2014). Financial Accounting Theory, 4th Edition.McGraw-Hill, Australia.
- Godfrey, J., A. Hodgson, A. Tarca, J. Hamilton and S. Holmes, Accounting Theory, 7th Edition, 2010, John Wiley and Sons, Australia.
- Henderson, S., G. Peirson, K. Herbohn, T. Artiach and B.Howieson (2013) Issues in Financial Accounting, 15h edition. Pearson Education Australia. (or 2010 edition)
- Leo, K., J. Hoggett and J. Sweeting (2012) Company Accounting, 9th Edition, John Wiley & Sons Australia.
- Loftus, J., K. Leo, N. Boys, S. Daniliuc, B. Luke, H.N. Ang and K. Byrnes, Financial Reporting, John Wiley & Sons Australia
- Loftus, J., K. Leo, R. Picker, V. Wise and K. Clark (2013), Understanding Australian Accounting Standards, 3rd Edition, John Wiley & Sons Australia (or the customised publication used in Financial Accounting II)
The writing centre provides academic learning and language development services and resources for local and international students including drop-in consultations: http://www.adelaide.edu.au/writingcentre/
An internationally recognised volunteer program is also available to provide language support for students from non-English Speaking Backgrounds who have an additional need to improve their oral communication:http://international.adelaide.edu.au/life/current/talkaussies/
Online LearningStudents should refer to the course website for certain required readings and additional references as directed. The website also includes links to some useful websites.
Learning & Teaching Activities
Learning & Teaching ModesAt this advanced level of study you are much more responsible for the quality of your learning than when you first entered university. Accordingly, active rather than passive learning is emphasised. For each topic there are self-study questions; and tutorial questions.
Self-study questions facilitate your comprehension of the content of the prescribed readings. Guidance on self-study questions is provided on MyUni. Your learning will be enhanced by attempting the questions before referring to the guidance notes to assess your response.
Tutorial questions are generally more challenging than self-study questions because they emphasise analysis, evaluation and synthesis of information, as well as the development of creative solutions to problems. There are two types of tutorial questions:
- Tutorial questions that you should attempt in preparation for the tutorial; and
- In-class tests, which are to be completed during tutorials.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.Students in this course are expected to attend one lecture and one tutorial class each week.
· Lectures : 2 hours per week, commencing Tuesday, 2 March 2015
· Tutorials: 1.5 hours per week, Tutorials START TUESDAY 10 MARCH 2015. (If you have a tutorial on a public holiday (e.g., Monday 9 March), information about alternative arrangements for your tutorial will be posted on MyUni).
The University expects full-time students (i.e. those taking 12 units/semester) to devote a total of 48 hours/week to their studies. Accounting Theory III is a three-unit course and you are expected to commit 8 - 9 hours of private study outside of your regular classes.
Learning Activities SummaryPlease consult the MyUni site for this course for more detailed information regarding the course topics.
Wk Starting Topic
PART I – INTRODUCTION
1 3/03/15 Key Questions in Accounting Policy Choice
PART II – ETHICS AND ACCOUNTING
2 10/03/15 Introduction to Accounting Ethics and Policy Choice
PART III – WHY IS THERE A CHOICE OF ACCOUNTING POLICIES?
3 17/03/15 Accounting and Measurement Issues
4 24/03/15 Measurement Illustrated - Fair Value Accounting
5 31/03/15 True and Fair View
6 7/04/15 Mid-Semester Exam in Lecture Time (Tutorials as usual)
7 28/04/15 Economic Consequences of Accounting Policy Choice
PART IV - GETTING EVIDENCE FOR THE CHOICE
8 5/05/15 Capital Markets Research & Behavioural Accounting Research
PART V - CONSEQUENCES OF THE CHOICE
9 12/05/15 Implications of Market Efficiency & Contracting for Financial Reporting
PART Va - SOME ACCOUNTING POLICY CHOICES IN ACTION
10 19/05/15 Accounting for Transactions with Customers
11 26/05/15 Social & Environmental Reporting and Integrated Reporting
PART VII – CONSTRAINTS ON THE CHOICE
12 2/06/15 Government Regulation of Financial Reporting
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment SummaryAssessment Summary
A variety of assessment tasks are used to reflect your knowledge and understanding of the content covered and your progress in achieving the learning objectives for Accounting Theory III.
To pass this course, a mark of at least 50% must be obtained on the final exam, as well as a total of at least 50% overall. Students not achieving the minimum exam mark will be awarded no more than 49.
Assessment Related RequirementsAssignment Guidelines including Referencing Details: Correct referencing is important because it identifies the source of the ideas and arguments that you present and helps to avoid the problem of plagiarism. This course makes use of the “Harvard” system of referencing. Guidelines for the use of this style of referencing can be found in the Communication Skills Guide for Business Programmes (look under ‘downloads’):
http://www.adelaide.edu.au/professions/hub/ug/downloads/ This booklet also provides guidelines on a range of other important communication skills (including writing essays and reports, making oral presentations etc.).
Late Assignment Submission: Students are expected to submit their work by the due date to maintain fairness and equity. Extensions will generally only be given for medical or other serious reasons. All requests for extensions must be emailed to the lecturer in charge of the course before the due date. Each request will be assessed on its merits. Unless subject to an extension (by prior arrangement) assignments will be penalised by a 25% mark reduction (25% of the maximum mark) for each day, or part thereof, that it is late.
Extensions for assignments may be granted under special circumstances. An extension request based on illness or exceptional personal circumstances must include the Supporting Statement/Certification Form, of the Modified Arrangements for Coursework Assessment application form at: http://www.adelaide.edu.au/student/exams/mod_arrange.html
Students applying for an extension based on medical reasons must visit their medical practitioner, with that approved University form, and have the medical practitioner complete it. A doctor's certificate will not be accepted. Any student seeking an extension must contact the course co-ordinator PRIOR to the due date. Extensions, except on medical grounds, cannot be given after the due date.
Marking of Assignments: Staff will aim to complete marking communicate feedback and grades to students within three weeks of submission.
Assessment DetailAssessment Detail
A summary of the assessment components are as follows (full details can be found on MyUni):
Due Date: Tuesday 12 May 2015, on or before 6.00 pm
Mid-semester Exam (Week 6) 20%
A 100-minute closed book exam will cover topics one to three A inclusive. This assessment task relates to learning objectives a) through e). Further details, including location(s), will be posted on MyUni. Please monitor MyUni for information about arrangements for the lecture and tutorials for week 6.
Tutorial Activities: 12%
This assessment task relates to learning objectives a) – e). Marks are NOT awarded for merely attending tutorials. Tutorial participation marks will be awarded for participation in various activities, including:
· In-Class Tests (best two of three) (6 marks), and
· Participation in general class discussion and in-class activities (6 marks).
In-Class Tests: Students will not be given advance notice of when an individual in-class test is to be held. They may be held in different weeks for different tutorials. In-class tests will be based on topics up to and including the topic to be covered in tutorials in the week in which the test is conducted. In-class tests will be scheduled at the beginning of tutorial classes, unless specified otherwise by your tutor. In-class tests can only be taken in your enrolled tutorial and missed tests cannot be 'made up' on another occasion for any reason (including medical).
Engagement in General Discussion: This is an assessment of your ability to answer questions when your tutor directs a question to you as well as contributing to general class discussion and in-class activities. Demonstrating that you have prepared answers to tutorial questions and being willing to discuss them in class is an important part of tutorial participation. Your participation will be assessed on how often you engage in class discussion of tutorial questions, the quality of your contribution and the extent to which you comply with appropriate tutorial etiquette (as described in this course outline under Teaching and learning Activities – Teaching and learning modes). The full range of the marking scale will be used – if you attend every tutorial but make no contribution whatsoever, you will be awarded zero for this assessment item.
Final Exam 50%
There will be a three-hour exam. This assessment task relates to learning objectives a) – e). The Accounting Handbook/Financial Reporting Handbook will be permitted in the final examination (Hard copies only; e-books not permitted). This must be unannotated and contain no inserts, tabs, or other material. It is permissible for the Handbook to include highlighted text. Handbooks will be checked and offenders may face penalties for cheating. In this course, only calculators incapable of storing text are permitted in the final examination. You are not permitted to take a DICTIONARY (English or English-Foreign) into the examination. Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process. Poor or illegible handwriting may result in marks not being awarded.
Presentation of Assignments
The assignment must be completed individually. The assignment relates to learning objectives (a) to (e) but with an emphasis on objective (d). Criteria for assessing the assignment will be provided with the instructions.
· Assignments must be submitted electronically through MyUni Turnitin Assignments, which is a computer programme that detects plagiarism.
· Please retain a copy of all assignments submitted.
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending
Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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This section contains links to relevant assessment-related policies and guidelines - all university policies.
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- Student Grievance Resolution Process
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