HI6025: Accounting Theory and Current Issue – Competitive Strategy – HOLMES Institute

Internal Code: MAS4600 Questions:

A) Ready: 

a. Form a group (maximum of 4 members)

b. If you have difficulties forming such groups, please contact your lecturer as soon as possible.

c. Select a company and get approval of the company (Any company listed with ASX and not taken by other groups) from your lecturer, on which your group want to progressively analyze

B) Get set:

a) Read and gain in-depth understanding of the various normative and positive theories of financial accounting from the text book and from other relevant & credible literature.

b) Be aware of some of the limitations of the various theories of accounting

c) Appreciate that there is no single unified theory of accounting

d) Understand the various pressures and motivations that might have an effect on the methods of accounting selected by an organisation

e) Understand what is meant by ‘creative accounting’ and why it might occur

f) Understand Financial statement preparation process (from Business Activities to Financial Statements) and the various influencing factors from this document and from other credible sources.

g) In-depth knowledge on Accounting Framework.

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