accounting theory

2001 words 9 pages
3101AFE Accounting Theory and Practice
Tutorial Questions for Tutorials 1- 6: Semester 2 2014
TUTORIAL 1 - Semester 2 2014

Deegan Topic 1: Introduction to financial accounting theory

QUESTION 1 - Question 1.8:
What is the difference between developing a theory by induction and developing a theory by deduction?

QUESTION 2 - Question 1.9:
Is the study of financial accounting theory a waste of time for accounting students? Explain your answer.

QUESTION 3 - Question 1.26:
Would you reject as ‘insignificant and useless’ a positive theory of accounting on the basis that in a particular research study the results derived failed to support the hypotheses and the related theory? Explain your answer.

QUESTION 4 – Question
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QUESTION 3 – Question 4.25
In considering the relevance of IFRS to developing countries, Chand and White (2007, p.606) state: (see below). Explain the reasons behind Chand and White’s claim.
“While the forces of globalization and convergence are moving accounting practices towards a unified, or at least, harmonized regulatory framework for financial reporting, this is unlikely to best serve the diverse interests of disparate user groups of financial reports.”

QUESTION 4 - Question 4.27:
Ball (2006, p. 17) makes the following comment: (below). Explain the basis of Ball’s comments.
“In sum, even a cursory review of the political and economic diversity among, IFRS-adopting nations, and of their past and present financial reporting practices, makes the notion that uniform standards alone will produce uniform financial reporting seem naïve.”

QUESTION 5 – Question 4.30 (NEW)
In continental European countries, prior to the adoption of IFRS, the domestic accounting rules were typically much more aligned with local taxation regulation than would be the case in countries like the United States, the United Kingdom, Canada, Australia or New Zealand. Why do you think this could have been the case?

QUESTION 6 - Topic 5: Question 6.7:
Conceptual framework projects identify a number of qualitative criteria that financial information should possess if it is to be


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