3101AFE Seminar Questions from Seminars 1 6 Sem 1 2015
3101AFE Accounting Theory and Practice
Seminar Questions for Seminars 1- 6: Semester 1 2015
SEMINAR 1 - Semester 1 2015
Deegan Topic 1: Introduction to financial accounting theory
QUESTION 1 – Question 1.2:
If you developed a theory to explain how a person’s cultural background influences how they prepare financial statements, would you have developed a positive theory or a normative theory?
QUESTION 2 - Question 1.3:
What is a conceptual framework, and would it be considered to be a positive or a normative theory of accounting?
QUESTION 3 – Question 1.27 (NEW):
The International Accounting Standards Board has a number of roles, including formulating accounting standards and developing a conceptual framework. Is the work they do in developing an accounting standard or the conceptual framework normative or positive in nature?
QUESTION 4 - Question 1.33 (NEW):
In this chapter we provided quotes from Gray, Owen and Adams (2010), in which they discuss an apparent herding phenomenon that seems to be occurring in respect of the selection and use of particular theories. They state, ‘there has been a strange herding tendency, especially around legitimacy theory’, as well as stating that they ‘also have a sneaking feeling that institutional theory may be coming up fast as the next theory around which to herd’.
What do they mean by this apparent practice of ‘herding’, and what are some possible advantages and disadvantages that are related to this practice?
QUESTION 5 – Question 1.35 (NEW):
Do we really need financial accounting theory if all we are interested in doing is developing accounting standards?
SEMINAR 2 - Semester 1 2015
Deegan Topics 2 and 3:
The financial reporting environment and Regulation of financial accounting
QUESTION 1 - Question 2.4:
Do you think it is realistic to expect that accountants are always objective when it comes to the practice of preparing financial statements? Explain your answer.
QUESTION 2 - Question 2.19:
What is the
Seminar Questions for Seminars 1- 6: Semester 1 2015
SEMINAR 1 - Semester 1 2015
Deegan Topic 1: Introduction to financial accounting theory
QUESTION 1 – Question 1.2:
If you developed a theory to explain how a person’s cultural background influences how they prepare financial statements, would you have developed a positive theory or a normative theory?
QUESTION 2 - Question 1.3:
What is a conceptual framework, and would it be considered to be a positive or a normative theory of accounting?
QUESTION 3 – Question 1.27 (NEW):
The International Accounting Standards Board has a number of roles, including formulating accounting standards and developing a conceptual framework. Is the work they do in developing an accounting standard or the conceptual framework normative or positive in nature?
QUESTION 4 - Question 1.33 (NEW):
In this chapter we provided quotes from Gray, Owen and Adams (2010), in which they discuss an apparent herding phenomenon that seems to be occurring in respect of the selection and use of particular theories. They state, ‘there has been a strange herding tendency, especially around legitimacy theory’, as well as stating that they ‘also have a sneaking feeling that institutional theory may be coming up fast as the next theory around which to herd’.
What do they mean by this apparent practice of ‘herding’, and what are some possible advantages and disadvantages that are related to this practice?
QUESTION 5 – Question 1.35 (NEW):
Do we really need financial accounting theory if all we are interested in doing is developing accounting standards?
SEMINAR 2 - Semester 1 2015
Deegan Topics 2 and 3:
The financial reporting environment and Regulation of financial accounting
QUESTION 1 - Question 2.4:
Do you think it is realistic to expect that accountants are always objective when it comes to the practice of preparing financial statements? Explain your answer.
QUESTION 2 - Question 2.19:
What is the