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ACCT 453 course cover

Accounting (ACCT) 453
Financial Accounting Theory (Revision 6)

Revision 6 closed, replaced by current version.

View previous syllabus.

Delivery mode: Individualized study online or
grouped study.**

Credits: 3 - Applied Studies.

Prerequisites: ACCT 352 and FNCE 370.

Centre: Faculty of Business

ACCT 453 is not available for challenge.

**Note: Students registering in grouped study, or grouped study international mode are advised that there may be some differences in the evaluation and course materials information indicated below. To obtain the most up-to-date information, contact the Faculty of Business Student Support Centre at 1-800-468-6531.

Overview

ACCT 453 explores some theoretical issues that underlie the discipline of financial accounting, as well as some practical consequences of these issues. Related fields of study, particularly economics and finance, are drawn on to study the efficient markets hypotheses and agency theory and their implications for financial reporting, applications of the present value model in accounting, the accounting standard setting process, and the economic consequences of accounting decisions.

Outline

ACCT 453 consists of ten lessons:

Lesson 1: Accounting under Ideal Conditions

Lesson 2: Decision Usefulness Approach to Financial Reporting

Lesson 3: Efficient Securities Markets

Lesson 4: Information Perspective on Decision Usefulness

Lesson 5: Measurement Perspective on Decision Usefulness

Lesson 6: Economic Consequences and Positive Accounting Theory

Lesson 7: An Analysis of Conflict

Lesson 8: Conflict Between Contracting Parties: Some Illustrations

Lesson 9: Standard Setting: Economic Issues

Lesson 10: Standard Setting: Political Issues

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Evaluation

To receive credit for ACCT 453, you must complete and submit two written assignments and a research paper; you must also write a midterm and a final examination. Your final grade is determined by a weighted average of the grades you receive on these activities. To receive credit for this course, you must achieve a minimum grade of “D” (50 percent) on the final examination and an overall grade of at least a “D” (50 percent) for the entire course. The weightings for each assignment and the exam are as follows:

Assign 1 Assign 2 Research Paper Midterm Exam Final Exam Total
2.5% 2.5% 15% 30% 50% 100%

To learn more about assignments and examinations, please refer to Athabasca University's online Calendar.

Note: Students planning to transfer this course to a Professional Accounting designation (i.e., CMA, CGA, CA) are advised that they will be required to achieve a grade higher than the minimum passing grade. See http://business.athabascau.ca/profAcct/ for details.

Course Materials

Textbook

Scott, W. R. (2006). Financial Accounting Theory (4th ed.). Toronto, ON: Pearson Education Canada, Inc.
ISBN 0-13-129491-1

Other Materials

All other materials are available online.

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