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

FACULTY OF BUSINESS

AND ECONOMICS

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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.

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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 society‟s 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 student‟s 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.

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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.

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Course Schedule

Week Commencing

Dates

Topic Textbook

Reference

Lecturer

1 July 20 Introduction TV

2 July 27 The Nature of Theories

The Construction of Theories

G – C1

G – C2

NR

3 Aug 3 Theories of Regulation G - C3 NR

4 Aug 10 The Conceptual Framework

Normative Accounting Theory

G - C4 NR

5 Aug 17 Nature of Assets and Liabilities G - C7/8 NR

6 Aug 24 Measurement and Income G - C5 NR

7 Aug 31 Revision

8 Sept 7 Mid-Semester Break

9 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

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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 week‟s 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.

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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.

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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 L1,3,6,7

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

resolved by reductionism or not.

L2, 5

P5 Apply knowledge, principles and skills embodied in the curriculum of

the accounting major appropriately and accurately.

P6 Efficiently formulate and effectively communicate accounting

information to users of such information.

P7 Apply the regulatory framework for financial reporting. L4

P8 Exercise professional judgment in applying accounting policies in the

framing of financial reports.

P9 Critically appraise financial social and environmental accounting

practices employed by entities.

L8

P10 Assess the relevance and capacity for practical application of current

and evolving global accounting practices in South Pacific Island

economies.

L9

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.

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Mapping Graduate Attributes with Course Learning

Objectives

Graduate Attributes L1 L2 L3 L4 L5 L6 L7 L8 L9

Communications

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

etc.

On-going 5%

Test May include calculations, short

answers, essays etc.

Week 7, TBC 15%

Assignment Essay Week 5, TBC 10%

Project Research Paper and Presentation From Week 10 20%

Continuous Assessment Total 50%

Final Exam 3 hour paper TBA by SAS 50%

TOTAL 100%

Mark Range and Grading of Assessed Work

A+ A B+ B C+ C D E 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).

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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

tutor‟s 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.

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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.

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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 student‟s 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 person‟s creative work and using it as one‟s own –

without explicitly giving credit to the original creator. Work copied without acknowledgement

from a book, from another student‟s 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 student‟s assignment. In this instance, „student

assignment‟ refers to a piece of academic work submitted for assessment purposes

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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;

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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 University‟s Student Discipline

Committee, which can:

a) Impose a fine not exceeding $500FJD

b) Prohibit the student from using any of the University‟s library and computing network

facilities for a period not exceeding twenty-eight days;

c) Recommend to the Vice-Chancellor that a student‟s enrolment be suspended for any

period and on terms considered necessary by the committee;

d) Recommend to the Vice-Chancellor that the student‟s enrolment be terminated, i.e.

expulsion from the University.

[Source: The University of the South Pacific 2015 Handbook and Calendar, pp 461-464]

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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.

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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