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SECOND SEMESTER
4201: Accounting Theory and Standards
Course Objectives:
This course is designed to:
(i)
get students familiar with concepts of theory development and theories of accounting
policy choice, measurement of economic income and the value relevance of
accounting information and with the process of development of accounting and
reporting regulations.;
(ii) help students of accounting to critically examine the connection between accounting
theories and the regulatory framework of financial accounting;
(iii) equip students with the ability to critically evaluates conceptual frameworks for the
preparation and presentation of financial statements of both the International
Accounting Standard Board (IASB) and the Financial Accounting Standard Board
(FASB); and
(iv) delve into financial disclosure regulations and practices in Bangladesh. The issue of
both disclosure adequacy and quality in the corporate annual reports will be
highlighted.
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Accounting Standards:
6.1 Perspectives for Setting Accounting Standards; Standards Setting Process;
Institutional Structure for Setting Accounting Standards; Role of the IASB to
Harmonize Accounting and Reporting Practices across Countries.
6.2 International Financial Reporting Standards (IFRS) Issued by IASB; First-Time
Adoption of International Financial Reporting Standards (IFRS-1).
Jensen, M. C. and Meckling, W., 1976. Theory of the firm: managerial behaviour,
agency costs and ownership structure. Journal of Financial Economics, 3(4): 305360.
Dye, R., and Sunder, S., 2001. Why not allow the FASB and the IASB Standards to
compete in the U.S.? Accounting Horizons, 15(3):257-271.
Scott, W. R.,2006. Financial Accounting Theory. Fourth edition, Prentice Hall.
Sunder, S., 2005. Minding our manners: Accounting as social norms. British Accounting
Research, 37:367-387.
Sunder, S., 1996. Theory of Accounting and Control, First Edition, South-Western
College Publishing.
Watts, R., and Zimmerman, J. 1986. Positive Accounting Theory. Prentice Hall.
Watts, R. and Zimmerman, J. L., 1990. Positive Accounting Theory: A Ten Year
Perspective. The Accounting Review, 65:131-156.
Zeff, S. Economic consequences of accounting policy choice, reprinted in Zeff and
Dharan, (eds). Readings and notes on financial accounting: 6-16, 1997, McGrawHill.