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ACC5216 Accounting Theory

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The course specification requires that your submission is your own individual work. You are strongly urged to complete this assessment yourself to receive clear feedback about your level of understanding of the course material. You will find information regarding plagiarism and academic misconduct, such as collusion and cheating in the course specification and on the USQ website. You cannot submit work submitted previously for any other assessment. The course specification also contains information about: o Assignment late policy o Assignment extension policy Please ensure that any ideas or data that you provide in your answer, other than your own original thoughts are properly referenced using the Harvard referencing style. A link to the university’s Harvard referencing style page is provided here.  The bibliography in not included in the word count. Late submission Please note that late submissions will be penalised. It is your job to submit your assignment on time the due time and date is the LAST time and date for submission without penalty. Extensions No extensions will be granted after the due date and time for the assessment has passed.
 
All requests for extension must be addressed to the Course examiner [email protected] at least one day before the due date with supporting documentation (e.g. doctor’s certificate) and a copy of your Word file (even if incomplete) to show that you have attempted the assessment to a reasonable level. Extensions will only be granted in extenuating circumstances. Crashing of computers, too busy with other assignments, heavy workload, and such reasons are not considered extenuating circumstances. Requests for extensions due to work commitments generally will NOT be granted. You must organise your study time around these other commitments. Instructions This assignment is a research based essay where you are required to relate a real world case study to accounting theory. Below you will find a news article relating to the large incomes earned by some of the Australian football leagues, while retaining tax-free status, and while requesting that the state governments fund the building and upgrades of the stadium facilities using taxpayer’s money.
 
Whilst these articles provide the context for this assignment you need to ensure that you also refer to other sources. You need to incorporate both academic and non-academic articles but must have at least 10 academic references. (Please make sure that you know what an academic reference is). The essay should include an abstract, introduction, body, conclusion and bibliography. Maximum word count is 1400 words not including the abstract or bibliography. Using the news articles provided below as a base, and referring to other appropriate literature,
 
discuss and critically evaluate the following:
? Determine the basis on which the tax-free status was initially provided in this case.
? Identify and discuss the arguments in favour of providing the tax-free status for sporting clubs.
? What are some reasons why some clubs have achieved large incomes since the tax-free status was initially provided.
?Identify and discuss the arguments against providing the tax-free status for sporting clubs.
? Using Public interest theory, Capture Theory and Economic Interest Theory, describe possible reasons why the clubs retain their tax free status and what may happen if the tax-free status is removed. What theory explains why these clubs ask for governments to build and upgrade the facilities in the stadiums? Explain how the theory would work in this case.
 
 
? What other accounting theories might explain the reasons both for and against the tax-free status for sporting clubs in Australia? ? Explain what possible impacts there may be if tax-free status was withdrawn from small local sporting clubs, and children’s sporting clubs. Should there be a division between the tax rules for small clubs versus large clubs? How (in your opinion) should this division be decided (back up your opinion with an Accounting Theory)?
? YOU MUST relate your answers to the link between theory and practice The essay should include an abstract, introduction, body, conclusion and bibliography. Maximum word count is 1400 words not including the abstract or bibliography.

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