Accounting Theory Paper

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Answer only Two QUESTIONS
This is a 60 marks exam
All questions carry equal weight
To be submitted through Turnitin within 24 HOURS
Late submissions will be awarded a mark of zero
Turnitin will be used to assess for plagiarism and collusion
Do not copy and paste answers or share answers
Academic Procedures for Unfair Practice will be implemented as normal In-text citations and
referencing must be used where appropriate Your answer must be submitted in a Word document
only
Word limit is up to: 3000 Words
Answer only Two questions. Use the parts as a guideline on how you should structure your answer.
Take note that a specific required length of 1,500 words is expected for each Question, totalling
3,000 words for the exam. Reference to the material utilized throughout the course is encouraged.
“All Accounting research is at its core interdisciplinary in that it draws from its theory and
methodology from other disciplines” (Roslender & Dillard, 2003:326). Having said this, accounting
scholars had deployed different theories as lenses that questioned many issues that were taken for
granted. These questions include what is accounting; its regulatory bodies neutrality; the role it is
1
playing in the economy; behavioural accounting and accounting reporting; and its role in
constructing or legitimising particular social structures.
Your Task: you have four different topics you are required to write an Essay that answer only Two of
the following topics:
1- Positive Accounting Theory represents the mainstream research in accounting. Critically
discuss the role of agency theory in corporate governance. Your answer should review the
different interests of principals and agents, and how corporate governance can be used to
change the rules under which the agent operates and restore the principal’s interests.
(30 Marks)
2- There are various theoretical explanations about why accounting regulations might be put in
place. Perspectives derived from public interest theory, capture theory, and the economic
interest theory clarified how certain parties try, and perhaps succeed in, affecting the regulatory
process. Critically discuss these debates and what we can conclude about accounting
regulations.
(30 Marks)
3- The International Accounting Standards Board (IASB) Disclosure Initiative was established in
2013 as ‘a broad-based initiative exploring how to make disclosures more effective in financial
statements. Critically discuss:
• if communication of irrelevant information really a problem for the primary users, then
why is not the problem analysed regarding the contexts of entities, auditors, regulators,
and primary users?
• What is the role of enforceability and compliance?
• Can we rely on entities’ ‘good faith’?
(30 Marks)
4- Saha and his colleagues (2019) claim that despite adopting of International Financial
Reporting Standards (IFRS) has the positive effects well-known in the literature and standard
setters have issued reports discussing how the required disclosures in IFRS become too heavy
and should be revised and reduced. So, there is a concern of disclosure overload problem that
intensively researchers examine to recommend in their research whether the disclosure
reduction recommendations of the Excess Baggage Report issued by professional accounting
bodies should take action and reduce the volume of required disclosure.
• Discuss if mandatory adoption of international financial reporting standards affects
accounting quality.
• Determines accounting quality changes around IFRS adoption.
• Introducing more IFRS principles of disclosure will improve the poor disclosers?
(30 Marks)
(Total: 60 Marks).
General Instructions & Format:
2
1) This is an individual assignment that you should be writing on your own.
2) The word limit for this assignment is 3,000 words (+/- 10%); excluding graphs and tables.
3) The assignment must be submitted on time (a soft copy to be uploaded on Turnitin) to be
considered for evaluation.
4) If you face any problem, please make sure to contact your lecturer before the due date.
5) You are expected to support your work with sources from the literature and use Harvard
referencing style as appropriate, in text and in the list of references at the end of your
assignment.
6) Format:
1.
2.
3.
4.
Font: Times New Roman
Use double spacing and sufficient margins (3-4 cm)
Headings & subheadings font size: 14 points; the rest of the text: 12 points
All pages should be numbered; include a table of content .
Grading:

The assignment will be graded out of a 60 and will count for 60% of your final grade for
this module.

The attached grading scheme will be used to evaluate your work.
3
Grading Scheme (out of 100)
Category
Grade
Primary Marking Criteria
Outstanding
Excellent
Distinction
70+
Good
Meets
requirements
of Class
Good
Merit
Mid-Level
60-69
Meets
requirements
of Class










Comprehensive knowledge
Detailed understanding of the subject area
Extensive background study
Highly focussed answer and well structured
Logically presented and defended arguments
No factual/computational errors
Original interpretation
New links between topics are developed
New approach to a problem
Excellent presentation with very accurate
communication









Strong knowledge
Understands most but not all of the subject area
Evidence of background study
Focussed answer with good structure
Arguments presented coherently
Mostly free of factual/computational errors
Some limited original interpretation
Well known links between topics are described
Problems addressed by existing
methods/approaches
Good presentation with accurate communication

Secondary Marking Criteria
• Exceeds expectations for most primary criteria
• Complete command of subject and other relevant
areas
• Ideas/arguments are highly original
• Exceeds expectations for some primary criteria
• Complete command of subject
• Ideas/arguments are highly original
• Meets all primary criteria
• Command of subject but with minor gaps in
knowledge
• Ideas/arguments are mostly original
• Meets most but not all primary criteria
• Command of subject but with some gaps in
knowledge
• Ideas/arguments are mostly original









Exceeds expectations for some primary criteria
Command of subject but with gaps in knowledge
Some ideas/arguments are original
Meets all primary criteria
Strong factual knowledge and understanding
Ideas/arguments are well presented but few are
original
Meets most but not all primary criteria
Strong factual knowledge with minor weaknesses in
understanding
Most but not all ideas/arguments are well presented
and few are original
4
Category
Grade
Good within the
Class
Credit
Mid-Level
50-59
Meets
requirements
of Class
Good within the
Class
Pass
Mid-Level
40-49
Meets
requirements
of Class
Primary Marking Criteria
• Knowledge of key areas/principles
• Understands the main elements of the subject area
• Limited evidence of background study
• Answer focussed on question but also with some
irrelevant material and weaknesses in structure
• Arguments presented but lack coherence
• Has several factual/computational errors
• No original interpretation
• Only major links between topics are described
• Limited problem solving
• Some weaknesses in presentation and accuracy











Knowledge of key areas/principles only
Weaknesses in understanding of the subject area
Limited evidence of background study
Answer only poorly focussed on question and with
some irrelevant material and poor structure
Arguments presented but lack coherence
Several factual/computational errors
No original interpretation
Only major links between topics are described
Limited problem solving
Many weaknesses in presentation and accuracy
For PGT – Insufficient to fulfil the associated learning
outcomes
Secondary Marking Criteria
• Exceeds expectations for some primary criteria
• Strong factual knowledge with some weaknesses in
understanding
• Ideas/arguments are limited but are well presented
• Matches all primary criteria
• Moderate factual knowledge with some weaknesses
in understanding
• Ideas/arguments are limited with weaknesses in
logic/presentation
• Matches most but not all primary criteria
• Moderate factual knowledge with several
weaknesses in understanding
• Ideas/arguments are limited with weaknesses in
logic/presentation









Exceeds expectations for some primary criteria
Moderate factual knowledge with several weaknesses
in understanding
A few ideas/arguments are presented but with
weaknesses
Matches all primary criteria
Limited factual knowledge with several weaknesses in
understanding
Very few ideas/arguments are presented
Matches most but not all primary criteria
Limited factual knowledge with many weaknesses in
understanding
Very few ideas/arguments are presented and with
errors in logic/presentation
5
Category
Grade
Good within the
Class
Mid-Level
Fail
39 and
below
Meets
requirements of
Class
Primary Marking Criteria
• Insufficient to fulfil the associated learning
outcomes
• No evidence of relevant knowledge or understanding
• No evidence of background study
• Answer relies on irrelevant material and lacks a
coherent structure
• No arguments presented or arguments are not
relevant to the assessment
• Many factual/computational errors
• No attempt at interpretation
• No links between topics are described
• No attempt to solve problems or to address the
assessment brief
• The presentation is very weak containing many
inaccuracies
Secondary Marking Criteria
• Exceeds expectations for most primary criteria
• No evidence of knowledge/understanding
• Only limited evidence of an attempt to answer the
question
• Exceeds expectations for some primary criteria
• No evidence of knowledge/understanding
• Very limited evidence of an attempt to answer the
question
• Matches all primary criteria
• No evidence of knowledge/understanding and/or
evidence of misunderstanding
• No attempt to answer/address the question
6

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3000 Words

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