ACCT90013 - Financial Accounting Theory & Practice

The ACCT90013 - Financial Accounting Theory & Practice sample is designed to guide students in understanding the theoretical concepts of accounting and the implications in the context of corporate reporting. These include accounting standards, income smoothing, and the influence of theory in standard setting and policy implications.

Sample Questions

1. Why is accounting theory useful in standard-setting?

It provides a conceptual foundation for developing convergent and transparent reporting standards.

2. What does Positive Accounting Theory say about managers decisions?

It connects managers’ accounting choices to self-interest and contract incentives.