Browse Hierarchy ACFI6008: Financial Accounting Theory

The objective of this module is to take a critical look at accounting practices in contemporary society. It looks at the practice of financial accounting and reporting. It also considers the impact of finance theory on accounting. The module looks at the actual role of accounting in organisations and society and contrasts this with its theoretical role. The theoretical role of financial reporting is examined by reference to the role of accounting assumed in conceptual frameworks for accounting. Roles for accounting in theory are contrasted with how they operate in actual conditions. Alternative accounting models are examined and criticised. The impact of these theoretical considerations on actual accounting practices of accounting for assets and liabilities is then assessed