Advanced Financial Accounting Theory – ACCT 632

CG • Section 8WK • 11/08/2019 to 04/16/2020 • Modified 07/28/2020

Course Description

This advanced course in financial accounting theory presents an in-depth analysis of the historical development of accounting theory and its application to current and future accounting issues. The course utilizes a case approach that provides a blend of theory, practice, and research. The course enhances critical thinking skills by synthesizing the professional accountant’s understanding and knowledge of accounting theory with the resolution of real world accounting problems. The course incorporates a global perspective with respect to the development and analysis of accounting standards.

Prerequisites

ACCT 612 and ACCT 511 and ACCT 521 and ACCT 531 and ACCT 622

Rationale

Theory emphasizes the why of accounting rather than the how. Professional accountants must cope with the increasing pace changes occurring in the world of business because new changes develop new problems, and new problems will warrant new solutions. Knowing the why of accounting can help guide in the development of new practices to solve future problems, and understanding the theory framework of accounting can help in formulating creative solutions to new problems that emerge.

Measurable Learning Outcomes

Upon successful completion of this course, the student will be able to:

  1. Summarize the development of accounting theory.
  2. Examine the proper presentation of financial statements in accordance with GAAP.
  3. Evaluate controversial accounting issues, alternatives, and solutions in light of a biblical worldview.
  4. Relate accounting theory to the practice of accounting.

Course Assignment

Textbook readings and presentations

Course Requirements Checklist

After reading the Course Syllabus and Student Expectations, the student will complete the related checklist found in Module/Week 1.

Group Discussion Board Forums (6)

The instructor will place the student into a group at the beginning of the course. Discussion Boards are collaborative learning experiences. Therefore, the student is required to create a thread in response to the provided topic for each forum. Each thread must be 400 words and demonstrate course-related knowledge. In addition to the thread, the student is required to reply to 2 other classmates’ threads. Each reply must be 250 words.

Individual Learning Project

The student will write a 12–15-page research-oriented paper in current APA format that focuses on financial accounting theory. The paper must include at least 5–7 peer-reviewed sources in addition to the course textbook and the Bible.

Group Learning Project

The student will write a 10–15-page research-oriented paper in current APA format that focuses on a current exposure draft. The paper must include at least 5 peer-reviewed sources in addition to the course textbook and the Bible. The group will create a PowerPoint presentation based on their findings, as well.