Accounting Theory Cga

9061 Words Aug 1st, 2011 37 Pages
Slide 1
ACCOUNTING THEORY & CONTEMORARY ISSUES (AT1)
MODULE ONE
Slide 2
ACCOUNTING UNDER IDEAL CONDITIONS
Part 1 - Foundation items re the course
Part 2 - Present value accounting under certainty
Part 3 - Present value accounting under uncertainty Part 4 - Reserve recognition accounting
Part 5 - Examination question examples
Part 6 - Historical cost accounting
Lecture by:
Dr. A. L. Dartnell, FCGA
Year 2009 - 2010
2
Slide 3
PART 1
Foundation Items re the Course
Different Course
Financial reporting is extremely important in our everyday life. You have heard of the many irregularities that have occurred in recent years which primarily involved financial reporting.
Financial reporting is controlled by standards set so
…show more content…
While the current edition of the textbook has few references to Canadian standards, coverage of current Canadian standards is included in the modules, as well as, the review and assignment material.
Coverage of certain United States standards is also included where these differ significantly from, or are in advance of, IASB standards.
All of this material is examinable unless specifically marked to the contrary.
4
In this course, material relating to specific accounting standards is largely (but not completely) at a conceptual level. Fortunately, at this level, most standards in Canada, the
United States, and internationally are broadly similar, thereby reducing the amount of detail you will have to learn. However, there are some important differences, particularly with respect to current value accounting, and these will be emphasized where appropriate.
It would seem that from 2011, current Canadian standards will no longer be relevant or examinable. Future versions of this course will include only IASB and relevant United States standards. Slide 8
History and Research
There is an interesting rundown on the history of accounting and research in the first
15 pages of the text. Go over them to get some background for the course.
Topic 1.2 of the module notes relates to recent developments in financial accounting. It gives an excellent account leading up to the current recession and also the effect on fair value accounting which we will be

More about Accounting Theory Cga

Open Document