AF301

Accounting Theory and Applications

COURSE OUTLINE

1. SEMESTER/YEAR: Semester 2, 2017

2. MODE OF DELIVERY/LOCATION: Face to face, Laucala Campus Only

3. PRE-REQUISITES: AF210 & AF201

4. COURSE CO-ORDINATOR: Peni T. Fukofuka

5. TEACHING TEAM

Name: Mr. Selvin Prasad Name: Ms. Masilina Rotuivaqali

Office: FBE Green Office:
Phone: Phone:
Email: Email:
Consultation Hours: Consultation Hours:

6. LECTURE TIMES & VENUE

There will be two lectures and you are required to attend both.
Lecture 1: Monday 4-5pm
Lecture 2: Wednesday 3-4pm

7. EMERGENCY CONTACT

Name: Gloria Bentley

Phone: 32332705
Email: gloria.yam@usp.ac.fj

AF301: Course Outline Semester II- 2017 Page 1

 8. COURSE DESCRIPTION

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.

9. COURSE LEARNING OUTCOMES

On successful completion of this course, students should be able to:

1. Explain the characteristics of accounting theory indicating how theories can be
constructed.
2. Discuss critically the nature of accounting elements such as assets, liabilities and
owners equity.
3. Discuss critically the forms of measurement used in accounting practices indicating
their limitations.
4. Discuss the practical difficulties raised by the conceptualization and measurement of
income.
5. Outline key theories that have relevance for understanding and evaluating accounting
practices such as theories of regulations, normative and positive accounting theories,
systems oriented theories, behavioral accounting research and theories relating to
culture.
6. Apply key theories that have relevance for understanding and evaluating accounting
practices such as theories of regulations, normative and positive accounting theories,
systems oriented theories, behavioral accounting research and theories relating to
culture.

10. USP GRADUATE OUTCOMES

The USP graduate outcomes are as follows:

1. Creativity: Graduates will generate new ideas and approaches to solve problems
2. Communication: Graduates will choose appropriate language and modes of
communication to share ideas and capture understanding
3. Critical thinking: Graduates will evaluate ideas and opinions before forming a
conclusion
4. Ethics: Graduates will apply ethical reasoning to their actions and decision-making
5. Pacific consciousness: Graduates will recognize the cultural heritage, and diversity of
Pacific societies
6. Professionalism: Graduates will apply professional principles, values and ethics to
their work
7. Teamwork: Graduates will collaborate with people of diverse perspectives to achieve
goals

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11. COURSE CONTENT

Date Focus for Each Week Reference Lecturer

1 10-14 July Introduction to financial accounting theory D- C1 MR
2 17-21 July The construction and evaluation of theories D- C1 PF
G- C2
3 24-28 July Theories of regulations D- C3 MR
4 31-04 The conceptual framework: Normative D- C6 PF
August Accounting Theory
5 07-11 The nature of assets and liabilities G- C7,C8 MR
August
6 14-18 Measurement and income D- C5 PF
August
7 21-25 Revision and panel discussion (USP Executive PF
August Director)
26-03 MID SEMESTER BREAK
September
8 04-08 Positive accounting theory D- C7 MR
September
9 11-15 An examination of behavioral accounting D- C11 PF
September research
10 18-22 International accounting, harmonization and D- C4 PF
September culture
11 25-29 Considerations for systems oriented theories D- C8 MR
September
12 02-06 Social and environmental accounting D- C9 MR
October
13 09-13 Current cost accounting and fair value D- C5 PF
October G- C6
14 16-20 Revision and panel discussion PF
October
15 21-29 STUDY BREAK
October
16 30 10 EXAMINATIONS
November (Ensure you know when and where your examination is held at)

D: Deegan
G: Godfrey
C: Chapter
MR: Masilina
PF: Peni

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12. PRESCRIBED TEXT AND OTHER RESOURCES

Prescribed text
Title: Financial Accounting Theory
Author: Craig Deegan
Edition: 4th Edition, McGraw Hill
Description: http://www.mheducation.com.au/9780071013147-aus-financial-accounting-theory

Other resources
Title: Accounting Theory
Author: Godfrey, J., A. Hodgson and S. Holmes et al.
Edition: 7th Edition, Wiley
Description: http://au.wiley.com/WileyCDA/WileyTitle/productCd-0470818158.html

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 13. ALIGNMENT OF LEARNING OUTCOMES, ACTIVITIES AND ASSESSMENT

The following table demonstrates the alignment of the course learning outcomes to
appropriate activities and assessments and the links to programme and USP graduate
outcomes.

Course Associated Assessment Programme USP Graduate Outcomes

Learning Teaching and Outcomes
Outcome Learning
Activities

1 Lectures, Test 1
tutorials, panel
discussion
2 Lectures, Test 7 3,6
tutorials, panel
discussion
3 Lectures, Test 1 3,6
tutorials, panel
discussion
4 Lecture, Test 1
tutorial, panel
discussion
5 Lectures, Test/ Group 1,4,9,10 2,3,6
tutorials, videos Assignment
6 Lectures, Test/ Group 1,4,9,10 2,3,6
tutorials, videos Assignment

14. ASSESSMENT

14.1 ASSESSMENT PORTFOLIO

TYPE OF ASSESSMENT WEIGHT Comments/Rationale LEARNING

OUTCOME
CONTINUOUS ASSESSMENT 50%
Class preparation, quiz and 5% May include in-class quizzes, 1-6
participation on-line quizzes, collection of
tutorial exercises etc.
Mid semester test 25% Will cover selected topics 1-6
Undertaken in groups, from 1-6
Group project
20% the same tutorial session
FINAL EXAMINATION - 50%
Final Exam 50% 3 hour paper 1-6

14.2 PASSING THE UNIT

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

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all components of the assessment. You DO NOT need to obtain a minimum mark in the coursework
element, including the test(s).

14.3 GRADE DISTRIBUTION

A+ A B+ B C+ C D E
85-100 78-84 71-77 64-70 57-63 50-56 40-49 0-39

14.4 ASSESSMENT POLICIES AND REGULATIONS

For detailed regulations, please refer to the USP Handbook and Calendar.

Plagiarism, copying materials from other sources without proper referencing and
acknowledge of the source is a serious offence and will be dealt with severely. In the
Regulations Governing Academic Misconduct section of the USP Handbook & Calendar
plagiarism is defined as 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. If lecturer is satisfied that plagiarism has occurred, they will report the
matter to the Head of School. They can reduce marks appropriately. If the matter is seen
as serious enough it can be taken to the Student Disciplinary Committee by the Head of
School.

15. IMPORTANT DATES

ACTIVITY WEIGHT WEEK

Class preparation, quiz and 5% 1-13
participation
Mid semester test 25% Week 7
Group project 20% Beginning on Week 9 for 5 consecutive weeks
Final Exam 50%

16. ADDITIONAL COURSE ATTENDANCE

16.1 TUTORIALS
You can sign-up for a tutorial by visiting the course Moodle page and choosing one of the available
sessions. Mr. Selvin Prasad can assist with any queries regarding tutorials.

16.2 LABORATORY SESSIONS

Not applicable

16.3 ONLINE WORK

The course will be administered through Moodle. Course notices, lecture handouts, tutorial
questions, assignments and assessment marks will be posted on the course Moodle page. Therefore
you should check the site regularly. 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 Mr. Selvin Prasad.

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 17. STUDENT SUPPORT

17.1 ONLINE HELP & e-Learning INFORMATION

Your main online help is Moodle discussion forums.

17.2 FACULTY STUDENT LEARNING SUPPORT (SLS) SERVICES

SLS can assist you with several learning activities. Please refer to their website:
https://www.usp.ac.fj/index.php?id=8434 . Please note that not all assistances and support
applies to third year accounting students.

18. EXPECTATIONS OF STUDENTS

18.1 STUDENT RESPONSIBILITIES

Students are expected to:

Thoroughly prepare for and attend all lectures, tutorials, team meetings etc. unless
hampered by illness in which case you must inform your course coordinator and team
members.
Spend enough time on Moodle and other activities required in the course
Arrange with the team members to work in their own times on any project.
Facilitate the course coordinator with any proof that he/she was sick and unable to
attend classes or assessment at the earliest possible time to avoid getting a zero mark
for the missed assessment.

18.2 STUDENT WORKLOAD

This is the capstone course for the Accounting program. Managing your time is of utmost important.
Below is a suggestive time allocation table to assist you. This is based on a per week workload and is
to be taken as a rough guide. Each student should be able to work out what works best for them to
ensure that they successfully pass this course.

TYPE Hours Comments

Lecture and tutorial 7 Reading the allocated weekly material and
preparation preparation for lecture and tutorial work.
Tutorial participation 2 Each week a student is expected to attend tutorial.
Lecture attendance 2 Each week a student is expected to attend 2 X 1 hour
lecture.
Moodle work 0.5 Participate in Moodle discussions.
Others 0.5 This may include visiting the AF301 teaching team or
any other activities.
TOTAL 12

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