Advanced Financial Accounting Theory – ACCT 632

CG • Section 8WK • 11/08/2019 to 04/16/2020 • Modified 02/01/2024

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.

For information regarding prerequisites for this course, please refer to the Academic Course Catalog.


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.

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 the Course Overview.

Case Assignments (6)

For each Case Assignment, the student should select one of the cases from the text. The particular case chosen should be clearly identified by chapter and number. The paper should be 500 words in length, use current APA format, and be supported with at least two citations and a biblical application.

Individual Learning Project Assignment

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.

Exposure Draft/Recent Standard Presentation Assignment

The student will prepare a presentation on a recent Exposure Draft or Accounting Standard. The student's presentation should summarize the main points, compare and contrast with current standards and International Financial Reporting Standards (IFRS), evaluate provisions, and develop a response to the exposure draft (for or against). The presentations must include a minimum of 7 slides, and a reference slide must be included in the presentation, at least 5 citations, and a biblical application for the subject matter of the case.