Question 1 -
Subject Learning Outcome: Be able to deconstruct some accounting issues that have been the subject of theoretical analysis:
Find a newspaper article or web page report of an item of accounting news, i.e. it refers to a current event, consideration, comment or decision that has been published after June 2014. Your article could also come from one of the professional journals such as 'Charter'. The article should not come from an academic journal. Academic journals generally do not contain news articles or articles of less than one page and are usually only published 2 or 4 times a year. If you are having a problem ensuring that your article is from an appropriate source contact your lecturer.
Explain the article that you have found in your own words and clearly relate the concepts, ideas and facts within the article to one or more of the theories or topics that you have studied this session. For example, the Australian Financial Review article contained in your readings (2.1) can be linked to topics such as Ethics, Accounting regulation and politics and Normative accounting theories (conceptual framework projects). Provide a copy of the article or web page, with details of the source, date and page number with your question answer.
Question 2 -
Subject learning outcome: Be able to deconstruct some accounting issues that have been the subject of theoretical analysis:
Find the comments letters received on a current exposure draft or proposal for a new accounting standard. (These can be found on the websites of most standard-setting organisations, such as the IASB, AASB and FASB. Hint: These websites can be quite difficult to navigate, so as a first step try typing "IASB comment letters"/"FASB comment letters" into google or other search engine of your choice). Read a sample of the comments from a range of respondents. Try to aim for between two and four respondents, for example, from accounting bodies, industry, companies or corporate bodies. If you are having a problem finding suitable comments letters then contact Nick Davis Include copies of the comments letters you wish to discuss and complete the following tasks:
a) Describe in your own words the issues that the exposure draft/proposal and comments letters are dealing with.
b) Is there agreement among the various groups? Describe the issues where there is agreement/disagreement and provide examples.
c) In your opinion, which of the three theories of regulation (eg, public interest, private interest or capture theory) best explains the comment letters? Justify your answer.
- Adapted from Rankin, Stanton, McGowan, Ferlauto and Tilling (2012).
Rationale
This assessment is designed to:
be able to deconstruct some accounting issues that have been the subject of theoretical analysis;
- be able to engage in the accounting discourse including critical analysis of its reflexive role in society;
- recognise how any why attempts are made to influence the accounting standard setting process;
- understand various theoretical perspectives that describe who is likely to gain greatest advantage from the implementation of accounting regulation;
- allow you to demonstrate your level of understanding and the level of your research efforts.