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ACCT20074 Contemporary Accounting Theory

Question

Answered

Questions:

Q 1

  • Explain how theories of accounting enhance your ability to be a critical thinker and differentiate you from an average accountant.
  • Explain the philosophical foundations and main arguments of critical accounting research.

Q 2

(a)  Describe the basic features of positive and normative theories of accounting. Give examples of these theories. 

(b)  Differentiate Positive Accounting Theory (PAT) from other positive theories of accounting.

(c)  Which theories have origin in the political economy theories?  

Q 3

  • Describe the development of accounting regulation in the USA in the 1930s.
  • Discuss the perspective and nature of collaboration between the IASB and FASB in relation to the development of conceptual framework for financial reporting
  • Identify and explain an accounting theory that considers that regulation is put in place to benefit society.

Q 4

(a) What are the fundamental principles of measurement in accounting? Describe how an organisation can enhance the faithfulness of information.

(b) Distinguish between current purchasing power accounting, current cost accounting, and continuously contemporary accounting. 

Q 5

  • Explain the relationships between various reporting concepts in relation to disclosure of corporate economic, social and environmental performance. 
  • Briefly explain the limitations of traditional financial accounting with respect to disclosure of corporate social and environmental performance. 
  • Identify what qualitative characteristics of information can be achieved through integrated reporting.

ACCT20074 Contemporary Accounting Theory

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More ACCT20074 ACCT20074 Contemporary Accounting Theory: Questions & Answers

Q

Management

From this report i need only the following tasks (F) Use the figures in the consolidated income statement of the company annual report and prepare the followings: (1) summarised absorption costing income statement showing operating profit of the company (Hint: You may need to ignore some revenue and ...

View Answer
Q

Management

Question 1  (25marks)Frogbox Moving Ltd receives a monthly bank statement.  The latest statement, for the month of July, shows a final cash balance of $2,450.  Frogbox’s bookkeeper notes the Cash balance for July 31 is $1,830.  Complete the July Bank Reconciliation for Frog ...

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Accounting

 Calculate the monthly holding-period returns for the market index and 2 companies.   2. Calculate the (i) arithmetic average return and (ii) annualised returns for the market index and the company. Compare the annual returns of the market and 2 companies and comment.  3. Calcula ...

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acc563: advanced accounting theory

Prepare a report to the management team at Seatoun Sports Shirts Ltd, advising on the suitability of their customer profitability analysis and any management action required.  Your report should cover the following:     (a) Your advice as to whether or not it is beneficial fo ...

View Answer

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