Accounting Theory

ACG 4151


    Accounting Theory: Text and Readings. by Schroeder and Clark.

    Financial Accounting Standards: Explanation and Analysis. by Jarnigan.

    Practical Accounting Theory:  A Casebook. by Fahnestock.


This is a course for accounting majors with senior standing.  There are four major objectives of this course: (1) to expose students to the broad spectrum of accounting theory; (2) to familiarize students with the application of accounting pronouncements; (3) to introduce undergraduate students to the impact and significance of accounting literature; and (4) to point out, where applicable, how particular material may be handled on the CPA Exam, without teaching toward the exam.

The material covered in this course includes an historical development of accounting.   This discussion highlights the impact of forces from both within the profession and outside the profession on the development of modern day accounting.  Coverage also includes an analysis of the conceptual framework of accounting, accounting for the results of operations, the basics of financial position and cash flow presentation, asset and liability classification schemes.  The material also includes a study of the accounting for equity, deferred income taxes, pensions, postretirement benefits, leases, business combinations, inflation, and foreign currency translation.  Additional topic areas include financial statement disclosures, the efficient market hypothesis, and human information processing.


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