ACC518 – Current Developments In Accounting Thought
Table of Contents
Subject Summary …………………………………………………………………………………………………….2 Subject Coordinator …………………………………………………………………………………………………2
Subject Coordinator ……………………………………………………………………………………..2 Email …………………………………………………………………………………………………………..2 Phone ………………………………………………………………………………………………………….2 Consultation procedures ………………………………………………………………………………2
Subject Overview……………………………………………………………………………………………………..3 Abstract ……………………………………………………………………………………………………….3 Learning outcomes……………………………………………………………………………………….3 Subject content ……………………………………………………………………………………………3 Key subjects…………………………………………………………………………………………………3 Assumed knowledge …………………………………………………………………………………….3
Subject Schedule & Delivery ……………………………………………………………………………………..3 Prescribed text……………………………………………………………………………………………..4 Class/tutorial times and location …………………………………………………………………..5 Schedule ……………………………………………………………………………………………………..5 Learning materials………………………………………………………………………………………..7 Learning, teaching and support strategies ……………………………………………………..7 Recommended student time commitment …………………………………………………..10
Assessment Items …………………………………………………………………………………………………..11 Essential requirements to pass this subject…………………………………………………..11 Items …………………………………………………………………………………………………………11
Short Critical Essays………………………………………………………………………..11 Review of Current Accounting Issues ………………………………………………..17 Final Exam ……………………………………………………………………………………..24
Assessment Information …………………………………………………………………………………………28 Academic integrity ……………………………………………………………………………………..29 Referencing………………………………………………………………………………………………..29 How to submit your assessment items …………………………………………………………29
Online submission process………………………………………………………………30 Postal submission process ………………………………………………………………31 Hand delivered submission process …………………………………………………31 Alternative submission process ……………………………………………………….31
Extensions………………………………………………………………………………………………….31 How to apply for special consideration…………………………………………………………32 Penalties for late submission……………………………………………………………………….32 Resubmission …………………………………………………………………………………………….33 Feedback processes ……………………………………………………………………………………33 Assessment return………………………………………………………………………………………33
Student Feedback & Learning Analytics ……………………………………………………………………33 Evaluation of subjects …………………………………………………………………………………33
Charles Sturt University Subject Outline ACC518 202060 SM I Version 4 – Published 27 August 2020
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Changes and actions based on student feedback ………………………………………….33 Learning analytics ………………………………………………………………………………………33
Services & Support …………………………………………………………………………………………………34 Develop your study skills …………………………………………………………………………….34 Library Services ………………………………………………………………………………………….34
Policies & Regulations …………………………………………………………………………………………….34 Subject Outline as a reference document……………………………………………………..34
Subject Summary
ACC518 – Current Developments In Accounting Thought Session 2 2020 Faculty of Business, Justice and Behavioural Sciences School of Accounting and Finance Internal Mode Credit Points 8
Welcome to a new session of study at Charles Sturt University. Please refer to the University’s Acknowledgement of Country (http://student.csu.edu.au/study/acknowledgement-of- country).
Subject Coordinator
Subject Coordinator Dr Sajjad Khan Email skhan@studygroup.com Phone 03 9935 7927
Consultation procedures Lecturer : Glen Davidson Email : GDavidson@studygroup.com
The best way to contact your Lecturer is via email if you have any questions concerning the contents and teaching of this subject. However, you should consider if your question is already addressed elsewhere (e.g. Subject outline, Announcements and iLearn within Interact2 site) and if you are contacting the most appropriate person.
Email Etiquette: In order to receive responses to your email on time ensure that you address the issue meeting the basic requirements of professional communication. You should include your ID number, full name, subject code and type of query in the header/subject to enable your Lecturer to read and identify who has sent the email. This will also avoid your email being treated as SPAM.
Charles Sturt University Subject Outline ACC518 202060 SM I Version 4 – Published 27 August 2020
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http://student.csu.edu.au/study/acknowledgement-of-country
http://student.csu.edu.au/study/acknowledgement-of-country
Subject Overview
Abstract This subject covers a critical review of developments in accounting theory and professional standards including the search for a conceptual framework, the evaluation and comparison of various accounting models and discussion of contemporary management accounting and financial reporting issues.
Learning outcomes Upon successful completion of this subject, students should:
be able to critically evaluate attempts to develop and apply a conceptual framework; be able to critically appraise the objectives of accounting and relate them to the
various concepts of accounting discussed in earlier subjects; be able to analyse the possible usefulness of alternative measurement systems to
historical cost; and be able to critically evaluate selected current financial reporting and management
accounting issues.
Subject content Information about the subject’s content is outlined in ‘Schedule’.
Key subjects Passing a key subject is one of the indicators of satisfactory academic progress through your course. You must pass the key subjects in your course at no more than two attempts. The first time you fail a key subject you will be at risk of exclusion; if you fail a second time you will be excluded from the course.
The Academic Progress Policy (https://policy.csu.edu.au/view.current.php?id=00250) sets out the requirements and procedures for satisfactory academic progress, for the exclusion of students who fail to progress satisfactorily and for the termination of enrolment for students who fail to complete in the maximum allowed time.
Assumed knowledge Assumed knowledge for this subject is equivalent to that covered in ACC567.
Subject Schedule & Delivery
Charles Sturt University Subject Outline ACC518 202060 SM I Version 4 – Published 27 August 2020
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https://policy.csu.edu.au/view.current.php?id=00250
Prescribed text The textbooks required for each of your enrolled subjects can also be found via the Student Portal Textbooks (http://student.csu.edu.au/study/study-essentials/textbooks) page. Prescribed text:
Deegan, C. (2014). Financial accounting theory (4th ed.). McGraw-Hill: Sydney.
Students must have access to a copy of the prescribed textbook.
The textbook for this subject is available as an eBook from the CSU Library. This eBook access has a limited number of simultaneous users. To ensure the text is accessible to as many people as possible please follow the instructions in this short eBook etiquette video: https://youtu.be/ o7mIprFUN6E
Charles Sturt University Subject Outline ACC518 202060 SM I Version 4 – Published 27 August 2020
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http://student.csu.edu.au/study/study-essentials/textbooks
https://youtu.be/o7mIprFUN6E
https://youtu.be/o7mIprFUN6E
Class/tutorial times and location Your class times can be found at Timetable @ CSU (http://timetable.csu.edu.au/). Find out how to use Timetable @ CSU via the Student Portal Class Timetable (http://student.csu.edu.au/study/study-essentials/timetable) page.
Schedule This study schedule has been devised to assist in your planning during the session, and is intended as a guide only.
Note: Assignment 2 contains two questions which require you to do some research during the session. Read the Assignment 2 questions now so that you can start the research.
Session Week
Week Commencing
Topics Readings Activities
1 20 July 1. The nature, construction and verification of theories
1. Refer to the topic -1 notes in Interact Topics. Listen to the mini lecture and read e-reserve readings 1.1 & 1.2 2. Read Textbook Chapter 1
Answer the following questions: 1.1, 1.3, 1.4 , 1.5, 1.7, 1.10, 1.13 , 1.15 and 1.18.
2 27 July 2. The History of Accounting – A theoretical perspective
1. Refer to the topic 2 notes in Interact Topics. Listen to the mini lecture and read e-reserve readings 2.1-2.5
Please attempt “Topic 2 review questions” within Test Centre.
3 3 August 3. Measurement in accounting
1.Refer to the topic – 3 notes in Interact Topics, listen to the mini lecture and read e-reserve readings 3.1-3.2 2. Read Textbook Chapter. 5, pp. 164-169 & 251-256.
Answer the following questions: 5.2, 5.3, 5.4, 5.6, 5.7, 5.9 and 5.11.
Census Date: 9 August
4 10 August 4. Normative accounting theories
1. Refer to the topic – 4 notes in Interact Topics. Listen to the mini lectures and read the e-reserve reading 4.1, re-read 3.2. Read SAC1 and AASB
Answer the following questions: Chapter 5 – 5.17, 5.19, 5.20, 5.24 and 5.25 Chapter 6 – 6.2, 6.3, 6.5, 6.7, 6.10, and 6.12.
Assignment 1 due 12
Charles Sturt University Subject Outline ACC518 202060 SM I Version 4 – Published 27 August 2020
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http://timetable.csu.edu.au/
http://student.csu.edu.au/study/study-essentials/timetable
http://student.csu.edu.au/study/study-essentials/timetable
framework Chapter 1. 2. Read Textbook Chapters 5 pp. 169-211 & Chapter 6.
August
5 17 August 5. Accounting regulation and politics
1. Refer to the topic – 5 notes in Interact Topics. Listen to mini lectures and read the e-reserve reading 5.1 2. Read Textbook Chapter 2 & 3.
Answer the following questions: 2.1, 2.2, 2.4, 2.5, 2.6, 2.7, 2.8 and 2.10.
6 24 August 6. The standard setting process
1. Refer to the topic – 6 notes in Interact Topics. Listen to the mini lecture and read e-reserve reading 6.1. Re-read 5.1. Read AASB Policies and Processes. 2. Re-read textbook Chapters 2 & 3.
Answer the following questions: 3.2, 3.3, 3.5, 3.7, 3.9, 3.10, and 3.12.
31 August Mid Session Break
7 7 September
7. International Accounting
1. Refer to the topic -7 notes in Interact Topics. Listen to the mini lecture and read e-reserve readings; 7.1-7.2 2. Read Textbook Chapter 4
Answer the following questions: 4.2, 4.3, 4.4, 4.7, 4.8, 4.9, 4.10 and 4.12.
8 14 September 8. Positive accounting theory
1. Refer to the topic – 8 notes in Interact Topics. Listen to the mini lectures and read e-reserve readings; 8.1-8.2
2. Read Textbook Chapter 7.
Answer the following questions: 7.1, 7.2, 7.4, 7.6, 7.9, 7.10, 7,12, 7.13, 7.15 and 7.16
Assessment 2 due 16 September
9 21 September 9. Critical perspective in accounting
1. Refer to the topic – 9 notes in Interact Topics. Listen to the mini lecture and read e-reserve reading 9.1-9.2. 2. Read Textbook
Answer the following questions: 12.1, 12.2, 12.4, 12.5, 12.7, 12.8, 12.10, 12.11, 12.16 and 12.18.
Charles Sturt University Subject Outline ACC518 202060 SM I Version 4 – Published 27 August 2020
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Chapter 12
10 28 September 10. Management Accounting
1. Refer to the topic -10 notes in Interact Topics. Listen to the mini lecture and read e-reserve readings 10.1-10.4
Answer the following questions: 10.1 and 10.2 review questions.
11 5 October 11. Environmental accounting
1. Refer to the topic -11 notes in Interact Topics. listen to the mini lecture and read e-reserve reading 11.1 2. Read Textbook Chapters 8 & 9.
Answer the following questions: 9.1, 9.3, 9.5, 9.7, 9.10, 9.11, 9.14 and 9.15
12 12 October Revision
19 October Exam Week 1
26 October Exam Week 2
This study schedule has been devised to assist in your planning during the session and is intended as a guide only.
Attendance is required at all scheduled lectures and tutorials.
Learning materials Details of learning materials that support your success in this subject can be found in the Interact2 Subject Site.
Learning, teaching and support strategies
In this subject we will meet for a 3-hour session where we will discuss that weeks topic. Before you come to class you need to have looked at the online activities in the Interact site. All of your subject materials are available on the Interact2 site under the Topics link in the left-hand side menu. I suggest that for each topic you read the learning outcomes carefully, read the commentary, have a quick skim of the text and readings and then listen to the short audio lectures and watch the relevant videos. Once you have got a feel for what the topic is about, try and make a good set of notes under each of the topic learning outcomes. You can do this consulting the text and readings again in a more considered way.
It is helpful to have a small task to complete early in the session so that you have a focus on the subject from the very first day, and so the first assessment is set for this purpose. If you do not perform well in this assessment you may be contacted to discuss how we can support you better in this subject.
Charles Sturt University Subject Outline ACC518 202060 SM I Version 4 – Published 27 August 2020
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The modules for this subject have been written specifically to guide you through the sections (and questions) of the prescribed textbook relevant to each topic.
You should check the Interact2 Site at least weekly for postings, announcements, lecture information and other resources that will assist your studies or additional information and resources vital to your success in the subject.
Studying at university does not mean studying alone. During the class, you will have an opportunity to interact with the lecturer as well as your peers.
Use the subject schedule to plan your studies over the session.
Information on effective time management is available on the CSU Learning Support website via the following link: http://student.csu.edu.au
You can also contact an adviser through Student Central on the following number: 1800 275 278 (or +61 2 6933 7507 from outside Australia).
Library Services: The CSU Library website provides access to online material and print, using Primo Search to find online journal articles, eBooks, hardcopy books from CSU Library (see Library Manager for Interlibrary Loan Requests), company & government reports, eJournals, dissertations, theses, newspapers including Business & Financial newspapers in Factiva (See Business & IT Journal Databases), and other reference resources (eg. Australian Bureau of Statistics, Australian standards, online encyclopaedias & dictionaries to be read on the computer). You will also find library guides, Subject Reserve for any readings eg. ITC100, ACC100, etc., and online assistance to help you use the Library’s resources such as Ask a Librarian Live Chat and Ask a Librarian – Web Form.
You can find Library Services on both the SGA library online catalogue: http://primo.unilinc.edu.au/primo_library/libweb/action/search.do?vid=SGA
The SGA library online catalogue allows students to Sign In, My Account shows students current library record including all books on loan, Renew your borrowed books online before the due date, also Search and Request all books in the SGA library, even if unavailable due to high demand from students. Students can Request books when all books are on loan to other students. When the requested book is returned to the SGA library, the student who requested the book receives an email immediately to pick up the book from the SGA library. View your library record online 24/7 at the above web link for SGA library.
And also CSU Library online: http://student.csu.edu.au/library – CSU Library Services including Primo Search & Subject Reserve online with 24/7 access, online and video tutorials in research skills, finding journal articles for assignments, topic analysis, download Endnote referencing program and many other online library services to help you successfully complete your assignments for all CSU courses. (http://trove.nla.gov.au/)
http://trove.nla.gov.au/ – Powerful search engine from National Library of Australia to access many different online resources on any subject from one search.
Contact Details for renewing loans, locating books and other information:
Charles Sturt University Subject Outline ACC518 202060 SM I Version 4 – Published 27 August 2020
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http://student.csu.edu.au/
http://primo.unilinc.edu.au/primo_library/libweb/action/search.do?vid=SGA
http://student.csu.edu.au/library
http://trove.nla.gov.au/
http://trove.nla.gov.au/
SGA Melbourne Library: Peter Head – Library Manager Ph: (03) 9935 7921 Email: PHead@studygroup.com (mailto:PHead@studygroup.com)
Library Help: http://student.csu.edu.au/library/help-contacts Friendly and quick assistance is available. Ask for help finding information and navigating the library’s extensive eResources.
Online Tutorials http://student.csu.edu.au/library/study-research/training-tutorials-videos
Learn how to: use Primo Search to find eReserve material and journal articles search journal databases and web resources for information for your assessments identify appropriate sources of information and peer reviewed material, and evaluate resources.
Bookmark your Subject Library Resource Guide Subject Library Guides are a great way to get started with research. Each online guide is tailored to a specific area of study, including Accounting, Business & Information Technology outlining how to research in your area and where to look for information. http://libguides.csu.edu.au/
Academic Learning Support Assistance: Visit the learning support website for advice about assignment preparation, academic reading and note-taking, referencing, and preparing for exams at: http://student.csu.edu.au/study (http://student.csu.edu.au/study%E2%80%8B) You may also contact:
Name: Craig Bellamy – Senior Education Designer Email: CBellamy@studygroup.com (mailto:CBellamy@studygroup.com) Phone: (03) 9935 7978
Name: Monique Moloney Email: MMoloney@studygroup.com (mailto:MMoloney@studygroup.com) Phone: (03) 9935 7919
Name: Seham Shwayli Email: SShwayli@studygroup.com (mailto:SShwayli@studygroup.com) Phone: (03) 9935 7965
Name: Bann Khorany Email: BaKhorany@studygroup.com (mailto:BaKhorany@studygroup.com) Phone: (03) 9935 7925
Name: Madelle Niemann Email: MNiemann@studygroup.com (mailto:SShwayli@studygroup.com) Phone: (03) 9935 7952
For appointments, please send an email CSUstudysupportmc@studygroup.com
Charles Sturt University Subject Outline ACC518 202060 SM I Version 4 – Published 27 August 2020
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mailto:PHead@studygroup.com
http://student.csu.edu.au/library/help-contacts
http://student.csu.edu.au/library/study-research/training-tutorials-videos
http://libguides.csu.edu.au/
http://student.csu.edu.au/study%E2%80%8B
http://student.csu.edu.au/study%E2%80%8B
mailto:CBellamy@studygroup.com
mailto:MMoloney@studygroup.com
mailto:SShwayli@studygroup.com
mailto:BaKhorany@studygroup.com
mailto:SShwayli@studygroup.com
mailto:CSUstudysupportmc@studygroup.com
(mailto:CSUstudysupportmc@studygroup.com) Queries regarding the content of this subject should be directed to your subject lecturer.
Recommended student time commitment CSU Academic Senate policy states that a standard 8 point subject should require students to spend a total of between 140-160 hours engaged in learning and teaching activities. This subject has been developed to comply with this policy.
Each week you should spend around 10 – 12 hours studying this subject, obviously, some weeks may require more time than other depending on how you work, but the following is a guide for your information:
Participation in weekly classes 3.0 hours
Presentation of answers to topic review questions 3.5 hours
Discussion board for reinforcement of learning 2.0 hours
Preparation of assessment items 3.0 hours
Charles Sturt University Subject Outline ACC518 202060 SM I Version 4 – Published 27 August 2020
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mailto:CSUstudysupportmc@studygroup.com
Assessment Items
Essential requirements to pass this subject You must obtain at least 50% in both the total mark and the examination mark in order to pass this subject.
If you marginally fail these pass criteria you are entitled to a second chance in the following circumstances:
You are eligible for an Additional Assignment (AA) if you submitted all assessment items, passed the exam (e.g. you scored 50% or above) but received an overall mark between 45 and 49;
or
You are eligible for an Additional Examination (AE) if you submitted all assessment items (including the final exam) but failed the exam (e.g. you scored less than 50%) and received an overall mark 45 or above.
Items Item No. Title Value Due Date* Return Date**
1 Short Critical Essays 15% 12-Aug-2020 02-Sep-2020
2 Review of Current Accounting Issues 25% 16-Sep-2020 12-Oct-2020
3 Final Exam 60% To be advised –
* Due date is the last date for assessment items to be received at the University ** Applies only to assessment items submitted by the due date
Assessment item 1 – Short Critical Essays Value: 15% Due Date: 12-Aug-2020 Return Date: 02-Sep-2020 Length: 2,500 words (guide) Submission method options: Alternative submission method
TASK Question 1 – 750 words
According to Deegan 2014 (p. 258) a number of writers have suggested that conceptual frameworks are created primarily to provide benefits to the parties that actually develop or commission the frameworks. What does Deegan mean by this statement? Do you agree with Deegan, or do you think conceptual frameworks exist for other reasons? Justify your position.
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Question 2 – 750 words
In 1973 Professor Ray Chambers (“Where company reports fail- Prof Chambers”, 1973)* said that the financial reports of companies failed to give a fair idea of financial positions and profits What did Chambers mean by this statement? Critically evaluate whether Chambers preferred alternative system, Continuously Contemporary Accounting (CoCoA), provides a realistic solution to the problems he identified.
*”Where company reports fail- Prof Chambers” (1973). Australian Financial Review, p. 30. (See Deegan, 2014, p. 192 for the full articule).
Question 3 – 750 words
Deegan (2014 p. 164) refers to the mixed measurement model of accounting, wherein no one basis of measurement (for example fair value or historical cost) is prescribed for all classes of assets and liabilities. Critically evaluate the mixed measurement model of accounting. In your response you should identify three criteria you are using to evaluate the mixed measurement model.
RATIONALE This assessment task will assess the following learning outcome/s:
be able to critically evaluate attempts to develop and apply a conceptual framework. be able to critically appraise the objectives of accounting and relate them to the
various concepts of accounting discussed in earlier subjects. be able to analyse the possible usefulness of alternative measurement systems to
historical cost.
Charles Sturt University Subject Outline ACC518 202060 SM I Version 4 – Published 27 August 2020
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MARKING CRITERIA AND STANDARDS
Question 1: High Distinction Distinction Credit Pass Marks
Explanation of Deegan’s statement. Evaluation of the roles of the conceptual framework. (SLO1)
Statement thoroughly explained. Response provides an insightful evaluation of alternative roles given to the conceptual framework.
Statement thoroughly explained. Response provides a well- considered evaluation of alternative roles given to the conceptual framework.
Statement clearly explained. Response provides a concise evaluation of alternative roles given to the conceptual framework.
Statement adequately explained. Evaluation of alternative roles of the conceptual framework may overlook some key issues.
2
Critical Capacity and use of Source Material: Does the response demonstrate any analysis of the development of conceptual frameworks? Is the critical discussion supported by reference to appropriate sources?
Critical analysis draws on source material as well as the student’s own thoughts. A well communicated and supported conclusion is reached.
Critical analysis draws on source material as well as the student’s own thoughts. The conclusion demonstrates a high level of understanding.
Clear analysis and evaluation that draws on a variety of source material. The conclusion demonstrates a solid understanding of the topic.
Some evidence of basic critical thought that is based primarily on only one source. A simplistic but clear conclusion is reached.
2
Question 2: High Distinction Distinction Credit Pass
Charles Sturt University Subject Outline ACC518 202060 SM I Version 4 – Published 27 August 2020
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Explanation of Chambers statement. Evaluation as to whether CoCoA provides solutions to the problems identified (SLO2 and 3).
Statement thoroughly explained. Response provides a deep and insightful critical evaluation of the ability of CoCoA to achieve its objectives.
Statement thoroughly explained. Response provides a thorough critical evaluation of the ability of CoCoA to achieve its objectives.
Statement clearly explained. Response provides a clear appraisal of of the ability of CoCoA to achieve its objectives.
Statement adequately explained. Response provides a limited critical evaluation of the ability of CoCoA to achieve its objectives.
2
Critical Capacity and use of Source Material: Does the response demonstrate any analysis of measurement systems is accounting? Is the critical discussion supported by reference to appropriate sources?
Response provides a clear, deep and critical analysis of measurement systems. Well communicated and supported, relying on a wide variety of source material.
Response provides a thorough analysis of measurement systems that draws on a wide variety of source material as well as the student’s own thoughts.
Response provides a clear critical analysis of the measurement systems that draws on source material as well as the student’s own thoughts.
Some evidence of basic critical thought in relation to measurement systems that is based primarily on only one source.
2
Question 3: High Distinction Distinction Credit Pass
Critical evaluation of the mixed measurement model according to identified criteria. (SLO3).
Deep and thoughtful description of criteria that can be used to evaluate a measurement system. Use of these
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