ACCT20039  Accounting Theory

Accounting Theory takes a critical look at the accounting standards that students were introduced to in the first accounting course. More specifically the issues addressed include valuation of assets and liabilities, alternative accounting methods (selling price, present value, and current cost), credit transactions, tax allocation, leases, intangibles, extractive industries, foreign operations, long-term contracts and accounting for subsidiaries. This course is the final accounting course in the Master of Accounting and provides a sound basis to the understanding of the accounting standards.If you have recently completed studies in Accounting Theory in an Australian undergraduate program, you are advised to seek substitution for this course if it is compulsory for your current program. Alternatively, if your program allows, you may seek exemption.