You are on page 1of 16

FACULTY OF BUSINESS

AND ECONOMICS

School of Accounting and Finance


The School Office is located in Room FBE-IS034 [Telephone 323-2517]
It opens from 8:00am to 4:30pm on Monday to Thursday and 8:00am to 4:00pm on Friday

AF301: Accounting Theory & Applications


Face to face Mode

Semester 2, 2015
Laucala Campus

General Information

Course Code

AF301

Course Title

Accounting Theory and Applications

Course Pre-requisite(s)

AF210 (or AF203) and AF201

Coordinator

Dr. Nacanieli Rika

Office

FBE Building Room 236

Email

Nacanieli.rika@usp.ac.fj

Phone

323-2570

Consultation hours

TBC

Other Teaching Staff


Name

Mr. Tevita Veituna

Office

FBE Building Room 128

Email

Veituna_t@usp.ac.fj

Phone

323-2515

Consultation hours

TBC

Lecture Times
Lecture 1

Wednesday 8-9am

018-001

Lecture 2

Thursday 4-5pm

018-001

Tutorial Tmes
You can sign-up for a tutorial by visiting the course Moodle page and choosing one of
the available sessions.

Page 2 of 16

Course Description and Pre-requisites


This course aims to provide an understanding of the construction of theories that explain
and frame the frameworks of accounting regulation and practice and predict developments
in accounting practice, consistent with societys needs for financial reporting. Students will
be encouraged to evaluate critically a range of accounting theories and to evaluate their
impact on accounting practice.

Moodle
The course will be administered through Moodle. Course notices, lecture handouts (including
tutorial questions), assignments and assessment marks will be posted on the course Moodle
page. Therefore you should check the site regularly.
Instructions on how you can login to the course Moodle page are provided in Appendix 1 at the
end of this document.
If you have lost your USP password or do not see your course as a listed course after login,
please contact the ITS student helpdesk.
Any other queries regarding Moodle can be referred to [Insert Course Moodle Administrator].

Accuracy of the Course Materials


Every effort is made to ensure the accuracy of all course materials. Any correction required will
be posted on Moodle as soon as the error is identified. This allows relief from hardship if
because of a documented error on the part of the University a students mark did not
accurately reflect the total academic performance causing hardship. Such matters are resolved
in a manner that is not detrimental to students and does not compromise the integrity of the
assessment process.

Student Support through The Accounting Space


The School operates a student support centre, which is located in the same building as the
School office. Please refer to the course Moodle page for opening hours. Staff at The
Accounting Space will be able to assist you in your revision and enhance your understanding of
course content. Please visit the centre if you are facing any learning difficulties.
The University provides other forms of support through the mentoring program at Student
Learning Support http://www.usp.ac.fj/index.php?id=8434.
You can also raise your views regarding the course through the Accounting and Finance
Student
Association
(AFSA).
Information
about
AFSA
is
available
at
http://www.afm.fbe.usp.ac.fj/index.php?id=8040.

Page 3 of 16

Course Text
Godfrey, J. A. Hodgson and S. Holmes et al. (2010) Accounting Theory, 7th edition, Wiley.
You are strongly encouraged to purchase your own copy of the text book. Alternatively, you
may be able to rent the book from the USP Book Centre or purchase a second-hand copy. At
least one copy of the text book is also on reserve at your Campus Library.

Supplementary Reading Materials


Belkaoui, A. and S. Jones (2010) Financial Accounting Theory 3rd edition, Cengage Learning
Australia.
Deegan, C. (2009) Financial Accounting Theory 3rd edition, McGraw Hill, Australia.
Drever, M., P. Stanton and S. McGowan (2007) Contemporary Issues in Accounting John
Wiley and Sons.

Useful Websites
The following websites may be useful. You can access them through hyperlinks on the Course
Moodle Site.
Website

URL

Details

Capital Markets
Development Authority

www.cmda.com.fj

Contains some information regarding


South Pacific Stock Exchange
regulations

Fiji Times Business


Sections

www.fijitimes.com

For local and international business


news.

Fiji TV- Talk Business

http://fijitv.info/talk_business

Find out about what is happening in


the business world in Fiji and around
the region.

International
Accounting Standards
Board

www.iasb.org

Contains summary exposure drafts


detailing proposed updates on the
International Accounting Standards.

International
Federation of
Accountants

www.ifac.org

This site contains the full text of the


International Public Sector
Accounting Standards (IPSAS)

South Pacific Stock


Exchange

www.spse.com.fj

For information about public listed


companies in Fiji.

Page 4 of 16

Course Schedule
Week

Commencing
Dates

Topic

Textbook
Reference

July 20

Introduction

July 27

The Nature of Theories

G C1

The Construction of Theories

G C2

Lecturer

TV
NR

Aug 3

Theories of Regulation

G - C3

NR

Aug 10

The Conceptual Framework

G - C4

NR

G - C7/8

NR

G - C5

NR

Normative Accounting Theory


5

Aug 17

Nature of Assets and Liabilities

Aug 24

Measurement and Income

Aug 31

Revision

Sept 7

Mid-Semester Break

Sept 14

Positive Accounting Theory

G C13

NR

10

Sept 21

System-oriented Theories

D - C8

NR

11

Sept 28

Social and Environmental Accounting

D - C9

NR

12

Oct 5

Harmonization and Culture

D- C4

NR

13

Oct 12

Behavioural Accounting Theory

G-C11

NR

14

Oct 19

Current Cost Accounting and Fair


Value

G- C6

NR

15

Oct 26

Revision

16

Nov 2

Study Break

17/18

Nov 9

Final Examinations

Key:
G = Godfrey et al., D =Deegan, NR = Nacanieli Rika, TV = Tevita Veituna

Page 5 of 16

Lectures
Lectures for this course will be conducted according to the course outline above. The lecturer
conducts the lectures and presents the main aspects of the weeks topic(s) to the class.
Important announcements will also be made during the lectures. You are strongly
encouraged to attend all the lectures as there will be no repeat lectures in this course.
All lecture materials will also be provided on Moodle. It is your responsibility to print out lecture
materials before the lecture.

Tutorials
Tutorials are compulsory. To pass any course where tutorials are required, you must attend
at least 60% of these to be eligible to pass the course. Students who do not meet the 60%
minimum requirement will fail the course under [Clause 1.3 (e) of the Assessment Regulations
outlined on Page 447 of the USP 2015 Calendar.]
Your first point of contact will be with your tutor in tutorials. Further clarification can be sought
from the lecturer/tutors during their consultation hours. The tutorial will focus on enhancing your
knowledge on the topic and concepts learnt in the lectures.
Tutorials will commence in the second week of the semester, and address issues addressed in
the lectures and assigned readings for the previous week. You will be required to undertake a
number of tasks in preparation for the tutorial. You will be advised of these tasks through
the course Moodle page. You must attempt tutorial tasks and participate in tutorial
discussions on the topics covered.

Class Participation
There are several methods of active class participation and some of them are listed below:
a) asking questions about text or case material,
b) making observations about text or case material,
c) making insightful comments or asking penetrating questions during tutorials or at
appropriate time during case presentations, and
d) relating assigned material to other areas of study or current events in the Pacific region.

Page 6 of 16

USP Graduate Attributes (USPGA)


a) Communication: Graduates will choose appropriate language and modes of
communication to share ideas and create understanding.
b) Creativity: Graduates will generate new ideas and approaches to solve problems.
c) Critical Thinking: Graduates will evaluate ideas and opinions before formulating a
conclusion.
d) Ethics: Graduates will apply ethical reasoning to their actions and decision making.
e) Pacific Consciousness: Graduates will recognise the cultural heritage and diversity of
Pacific societies.
f) Professionalism: Graduates will apply professional principles, values and ethics to their
work.
g) Teamwork: Graduates will collaborate with people of diverse perspectives to achieve
goals.

Course Learning Objectives (CLO)


Upon successful completion of this course, students will be able to:
L1

Explain the nature of accounting theory and the means by which theories can be
constructed.

L2

Explain the forms of measurement used in accounting practice and their limitations.

L3

Compare and contrast public and private interest theories of regulation in the context of
accounting.

L4

Explain the nature of assets, liabilities and owners equity.

L5

Discuss the practical difficulties raised by the conceptualization and measurement of


income.

L6

Outline and critically evaluate the impact that normative, positive and behavioural
accounting theories have had on the understanding and development of accounting
practice.

L7

Outline and evaluate stakeholder and legitimacy theories and explore their
relationships.

L8

Critically evaluate arguments in favour and against incorporating social and


environmental accounting, within the scope of accounting.

L9

Explain the impact that globalization and individual societies cultures have had on
accounting practice nationally and internationally.

Page 7 of 16

Accounting Program Learning Outcomes (APLO)


On successful completion of the program graduates will be able to:
Addressed
through CLO(s)
P1

Evaluate/Judge/Test arguments, ideas and theories

P2

Demonstrate a disposition and capacity to undertake career long


independent learning in the field of accounting.

P3

Discriminate between relevant and irrelevant information in framing


decisions.

P4

Address real world problems irrespective of whether they can be L2, 5


resolved by reductionism or not.

P5

Apply knowledge, principles and skills embodied in the curriculum of


the accounting major appropriately and accurately.

P6

Efficiently formulate and effectively communicate


information to users of such information.

P7

Apply the regulatory framework for financial reporting.

P8

Exercise professional judgment in applying accounting policies in the


framing of financial reports.

P9

Critically appraise financial social and environmental accounting L8


practices employed by entities.

P10

Assess the relevance and capacity for practical application of current L9


and evolving global accounting practices in South Pacific Island
economies.

P11

Articulate the role the law does and can play in facilitating good
commercial practice.

P12

Demonstrate levels of post conventional moral reasoning (as per


Kolberg's hierarchy) in the conduct of their daily lives.

P13

Articulate, observe and apply principles of good governance.

P14

Make proficient use of information systems in organisations and


make critical decisions relating to the use of information technology
in organisations.

Page 8 of 16

L1,3,6,7

accounting

L4

Mapping Graduate Attributes with Course Learning


Objectives
Graduate Attributes

L1

L2

L3

Communications

L4

L5

L6

L7

L8

L9

Creativity

Critical Thinking

Ethics

Pacific
Consciousness

Team Work

Assessment and Grading


Course assessment is allocated between continuous assessment and the final exam.
Component

Details

Submission Date

Weight

In-class assessment

May include quizzes, presentations On-going


etc.

5%

Test

May include calculations,


answers, essays etc.

short Week 7, TBC

15%

Assignment

Essay

Week 5, TBC

10%

Project

Research Paper and Presentation

From Week 10

20%

Continuous Assessment Total


Final Exam

50%

3 hour paper

50%

TBA by SAS

TOTAL

100%

Mark Range and Grading of Assessed Work


A+

B+

C+

EX

85+

78-84

71-77

64-70

57-63

50-56

40-49

<40

Failure to sit final exam

To obtain a pass in this course, you must attain a minimum overall pass mark of 50% (i.e.
grade C). This must include a minimum of 40% in the final examination. You must also
satisfactorily complete all components of the assessment. You DO NOT need to obtain a
minimum mark in the coursework element, including the test(s).

Page 9 of 16

Accessing Coursework Marks


You can track your course work marks through the Grade book feature on Moodle. The Grade
book will be updated as soon as any course work component marks become available. You are
encouraged to check for consistency in the entering of your marks. Any inconsistencies must
be brought immediately to the attention of your tutors.

Individual Assignments
There will be one individual assignment, which will be posted on Moodle. The assignment will
be based on various topics discussed in this course.

Group Assignments
You will be required to conduct and present a group research project. Research topics will be
posted on Moodle and randomly distributed in tutorials.
Each group will consist of four students in the same tutorial. You must submit the names of
your group to your tutor at the tutorials in Week 3.

Guidelines for Writing Assignments


All written work is to be typed, spell checked, proof read and corrected before it is submitted.
Hand-written assignments will not be accepted. Please type on one side of the page only.
Assignments must be legible and written in academic English.
Write your names (as in USP record) and ID numbers on all pages. Include your tutorial time and
tutors name on the first page of the assignment.
If you need assistance in writing skills, referencing, oral presentation, examination skills or
preparation of scholarly analytical papers, you may seek assistance from the FBE Student
Learning Support located opposite the USP Library.

Referencing
Ensure proper citation of references. Failure to do so will result either in marks being deducted
or in assignments not being marked. If found copying or plagiarising, you will be penalised and
awarded zero.
You are strongly encouraged to use the APA Referencing Guide when writing assignments
and seminars.

Page 10 of 16

Submission of Assignments
You will be required to upload an electronic copy of your individual and group assignments
through the Turn-it-in software on Moodle. Assignments with high similarity rates will be
reviewed for plagiarism and academic dishonesty. This may result in deduction of partial or
total marks.
Electronic submission may be in Word or PDF format. Any attempt to manipulate the Turn-it-in
similarity rate will be considered cheating and will result in a zero mark.
The due dates for assignments are to be strictly followed. Failure to submit an assignment on
time will lead to a penalty of 10 marks deducted from the mark the assignment merits for
each day late which is counted after the due date. This means that if you are 10 days late in
submitting your assignment then automatically you will receive a mark of zero (0). Exceptions to
this penalty will only be granted where a late submission is due to reasons beyond students
control.
If you fail to submit an assignment or sit a test or exam on the appointed date because of sickness
then you must submit a medical certificate from the university authorized doctors to the course
coordinator at the earliest possible date. Medical certificates issued by doctors other than the
university doctors are NOT acceptable.
If there is a death in the family then you need to submit a death certificate clearly stating your
relationship to the deceased. Any other reasons apart from these will not be accepted.

Mid Semester Test


A two hour mid-semester test will be held on or around Week 7. The ideas and concepts for the
questions will be drawn from tutorials and lecture materials. The exam day, time and venue will
be advised later.

Final Examination
A three (3) hour examination will be conducted at the end of the course. It will be based on the
topics covered in the assigned chapters and discussions in class during the semester.
Students who are prevented from sitting the final examination through no fault of their own, or
consider that their performance in the final examination will be seriously impaired, may make
application to the Registrar or nominee for consideration for the award of an Aegrotat Pass,
Compassionate Pass, or to sit a special examination. The application should be made on the
form provided by Student Administration Services (SAS), normally prior to the examination
being held. One of the conditions for approval is that the student had achieved in the
coursework a mark equivalent to a grade of at least a B.

Page 11 of 16

Regulations Governing Academic Misconduct


These regulations should be read in conjunction with the University Student Discipline
Ordinance and Regulations, the Academic Honesty Policy [Policy No. 3.4.2] and the University
Copyright Compliance Guidelines [Policy No. 3.4.5).
1.0 What is Academic Misconduct?
Academic misconduct occurs where students use dishonest practices (such as cheating or
plagiarism) in carrying out academic work (coursework, assignments or examinations). Minor
academic offences are dealt with in the faculties. Serious cases are referred to the Student
Disciplinary Committee, which reports to Senate.
All written work submitted for a course, except for acknowledged quotations, must be
expressed in the students own words, with proper referencing of borrowed ideas. Students
must not submit coursework that has been completed dishonestly using any of the dishonest
practices described below.
Where a member of academic staff has reasonable grounds to believe that a student is guilty
of academic dishonesty in coursework, assignments, research theses or examinations one or
more of the penalties detailed in 3.0 below may be imposed.
Academic Dishonesty includes plagiarism, collusion and cheating when preparing
coursework, assignments, research theses or sitting an examination.
(i)

Plagiarism

Plagiarism is the copying of another persons creative work and using it as ones own
without explicitly giving credit to the original creator. Work copied without acknowledgement
from a book, from another students work, from the internet or from any other source is
plagiarism.
Plagiarism includes the following:
a) Copying of the published or unpublished words of another writer without
acknowledging the source using acceptable reference citation methods. Thus, to; 'cut
and paste' from internet sources or 'lift' sentences, ideas and sections from a textual
source qualifies as plagiarism.
b) Lifting or cutting and pasting extracts without quotation marks or appropriate
acknowledgement of sources.
c) Paraphrasing of content and ideas without proper acknowledgement of the source.
d) The use of images, diagrams, photographs and material from blogs and social
networks, without acknowledgement.
e) Copying part or all, of another students assignment. In this instance, student
assignment refers to a piece of academic work submitted for assessment purposes

Page 12 of 16

for any course, in past or current years at any educational institutional including USP
or any other university.
ii) Collusion
Collusion means working with someone else to deceive or mislead to gain an unfair
academic advantage. It includes;
a) Submission of a paper that has been written by an author other than the author
credited for that piece of writing. This includes the use of paid services of a
student, or any other person that has been solicited for that purpose.
b) Facilitating or enabling another student to plagiarise in any way.
iii) Cheating
Cheating involves acting in any way that directly contradicts the explicit rules and guiding
principles of that form of assessment. It applies in any form of examination including short
tests, quizzes and final examinations.
Cheating includes (inter alia):
a) Doing anything to gain an unfair or illicit academic advantage in an examination;
b) Possessing, referring to or having access to any material, or to access the internet
crib notes or device containing information directly or indirectly related to the subject
matter under examination other than what is explicitly approved for examination
purposes;
c) Using a cell phone to communicate with any other student or person inside or outside
the examination venue;
d) Copying from another student in a test or examination; enabling another student to
cheat in a test or examination;
e) Soliciting a person to sit a test or final examination in place of the student enrolled;
sitting a test or final examination in the place of another student;
f) Manipulation of scores in tests or examination or in any other form of assessment;
g) Enabling another student in any or a combination of any of the above.
3.0 Penalties for Academic Misconduct
i) A suspected case of academic misconduct will be reported in writing to the course
coordinator, Head of School, and Dean of Faculty.
ii) The penalties imposed for proven cases of misconduct vary. Based on the
seriousness of the case, the penalties include, but are not limited to:
a) A written reprimand of the student from the Head of School;

Page 13 of 16

b) The requirement by the Head of School that the student complete further work, or
repeat work, for the course.
c) Deprivation of credit for a course, or for a component of assessment of the course, to
which the academic misconduct relates, by the Dean of Faculty;
d) Cancellation of any previously-credited pass in a course associated with the offence,
by the Dean of Faculty;
iii) Significant and repeat offences will be referred to the Universitys Student Discipline
Committee, which can:
a) Impose a fine not exceeding $500FJD
b) Prohibit the student from using any of the Universitys library and computing network
facilities for a period not exceeding twenty-eight days;
c) Recommend to the Vice-Chancellor that a students enrolment be suspended for any
period and on terms considered necessary by the committee;
d) Recommend to the Vice-Chancellor that the students enrolment be terminated, i.e.
expulsion from the University.
[Source: The University of the South Pacific 2015 Handbook and Calendar, pp 461-464]

Page 14 of 16

Appendix 1

How to log in to Moodle


To use Moodle, the first thing you will do is to log in. Only after you log in will you have access
to the Moodle features you need for this course.
Step 1:

Open your browser: Please use Mozilla Firefox or Google Grome to open this page.

Type in the following at the address bar: http://elearn.usp.ac.fj/ or click on the Moodle link
from your SOLS.

Then press Enter.

Step 2:

You will come to the main Moodle page.

Click Login at the top of the screen.

Step 3:

You will come to a Login screen.

Type your student number in the Username box.

Type in your Password box then click Login.

Page 15 of 16

Note:
Your student number has to be in UPPERCASE, e.g. S97009126 not s97009126
Step 4:

You will be prompted to change your password IF this is the first time you are logging in.

Type in the required fields and click change password.

Once your password has been changed successfully, click Continue.

Step 5:

You will come to the Profile page

A list of courses on which you are enrolled appears. Click the course code and title to enter
the course.

You can edit profile if you wish or click on the your course Link to continue.

You can also add your mobile number to receive SMS notification from Moodle

Page 16 of 16

You might also like