ACCT19062  Accounting Theory

Financial accounting theory with special reference to concepts of accounting, methodology of accounting theory, valuation of assets and liabilities, and income determination, and a critical consideration of alternative accounting models (present value, current cost, selling price). Consideration is given to the application of accounting theory to extended credit transactions, tax allocation, long-term contracts, leases, intangibles, and accounting for subsidiaries, associated and diversified companies, extractive industries and foreign operations.