AF301

Accounting Theory and Applications

COURSE OUTLINE

1. SEMESTER/YEAR: Semester 2, 2022

2. MODE OF DELIVERY/LOCATION: F2F (Laucala) and Blended (Other Campuses).

3. PRE-REQUISITES: AF201 & AF210

4. COURSE CO-ORDINATOR: Masilina Rotuivaqali

5. TEACHING TEAM

Name: Ms. Masilina Rotuivaqali Name: Mr. Eremasi Kamanalagi

Office: S234, FBE Building
Phone: 32 32532
Email: masilina.rotuivaqali@usp.ac.fj
Consultation Hours: TBC
Office: 103A, Falekau Building
Phone: 32 32014
Email: eremasi.kamanalagi@usp.ac.fj
Consultation Hours: Monday 12-2pm &
Thursday 12-1pm

6. ONLINE LECTURE TIMES

7. EMERGENCY CONTACT

Name: Gloria Yam

Phone: 323-2517
Email: gloria.yam@usp.ac.fj

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8. COURSE DESCRIPTION

This course aims to provide an understanding of the construction of theories that explain and frame
the frameworks of accounting regulation and practice and predict developments in accounting
practice, consistent with society’s needs for financial reporting. Students will be encouraged to
evaluate critically a range of accounting theories and to evaluate their impact on accounting
practice.

9. COURSE LEARNING OUTCOMES

On successful completion of this course, students should be able to:

1. Explain the characteristics of accounting theory indicating how theories can be
constructed.
2. Discuss critically the nature of accounting elements such as assets, liabilities and
owner’s equity.
3. Discuss critically the forms of measurement used in accounting practices indicating
their limitations.
4. Discuss the practical difficulties raised by the conceptualization and measurement of
income.
5. Outline key theories that have relevance for understanding and evaluating
accounting practices such as theories of regulations, normative and positive
accounting theories, systems oriented theories, behavioral accounting research and
theories relating to culture.
6. Apply key theories that have relevance for understanding and evaluating accounting
practices such as theories of regulations, normative and positive accounting theories,
systems oriented theories, behavioral accounting research and theories relating to
culture.

10. USP GRADUATE OUTCOMES

The USP graduate outcomes are as follows:

1. Communication: Graduates will be able to communicate ideas clearly and

persuasively in structured formats using language and other modes of
communication that are appropriate for context, audience and specific disciplinary
conventions.
2. Creativity: Graduates will extend boundaries of current knowledge in a particular
discipline or profession.
3. Critical thinking and quantitative reasoning: Graduates will be able to evaluate
multiple perspectives and arrive at a reasonable independent judgement based on
evidence.

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 4. Ethics: Graduates will demonstrate a commitment to high ethical standards in
scholarly, professional and socio-cultural practices.
5. Pacific consciousness: Graduates will recognize the cultural heritage and diversity of
Pacific societies for sustainable development in a contemporary environment.
6. Professionalism: Graduates will demonstrate the ability to carry out tasks to
acceptable standards within their profession and occupations.
7. Teamwork: Graduates will work together in a respectful and collaborative manner to
complete tasks within teams to achieve an outcome.

11. COURSE CONTENT

Date Focus for Each Week Reference

1 15-19 Aug Introduction to financial accounting theory D- C1
2 22-26 Aug The construction and evaluation of theories D- C1
G- C2
3 29 Aug – 2 Sep Theories of regulations Perusall 1 D- C3
4 5 – 9 Sep The conceptual framework: normative accounting D- C6
theory
5 12 – 16 Sep Measurement theory G- C7, C8
6 19 – 23 Sep The nature of assets and liabilities Perusall 2 G- C5
7 24 – 30 Sep MST Revision D- C4
3 – 7 Oct MID SEMESTER BREAK
8 10 -14 Oct International accounting, harmonization and D- C8
culture
9 17 - 21 Oct Considerations for systems oriented theories D- C9
10 24-28 Oct Social and environmental accounting Perusall 3
11 31 Oct - 4 Nov Positive accounting theory D- C7
12 8 - 12 Nov An examination of behavioral accounting research D- C11
13 7 - 11 Nov Current cost accounting and fair value D- C5
Perusall 4 G- C6
14 14 - 18 Nov Revision
15 28 Nov – 2 Dec STUDY BREAK
16 5 -16 Dec EXAMINATIONS
(Ensure you know when and where your examination is held at)
Key D: Deegan, G: Godfrey, C: Chapter

12. PRESCRIBED TEXT AND OTHER RESOURCES

Prescribed text
Title: Financial Accounting Theory
Author: Craig Deegan
Edition: 4th Edition, McGraw Hill
Description: http://www.mheducation.com.au/9780071013147-aus-financial-accounting-theory

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Other resources
Title: Accounting Theory
Author: Godfrey, J., A. Hodgson and S. Holmes et al.
Edition: 7th Edition, Wiley
Description: http://au.wiley.com/WileyCDA/WileyTitle/productCd-0470818158.html

13. ALIGNMENT OF LEARNING OUTCOMES, ACTIVITIES AND ASSESSMENT

The following table demonstrates the alignment of the course learning outcomes to
appropriate activities and assessments and the links to programme and USP graduate
outcomes.
Course Associated Teaching and Assessment Programme USP Graduate
Learning Learning Activities Outcomes Outcomes
Outcome
1 Readings, Videos, Test 1 1, 3
Discussion forums Online activities
2 Readings, Videos, Test 7 1, 3, 5, 6
Discussion forums Online activities
3 Readings, Videos, Test 1 1, 3, 4, 5,6
Discussion forums Online activities
4 Readings, Videos, Test 1 1, 3, 5, 6
Discussion forums Online activities
5 Readings, Videos, Test 1,4,9,10 1, 2,3,4, 5
Discussion forums Group Project
6 Readings, Videos, Test 1,4,9,10 1, 2,3,4, 5
Discussion forums Group Project

14. ASSESSMENT

14.1 ASSESSMENT PORTFOLIO

TYPE OF ASSESSMENT WEIGHT Comments/Rationale LEARNING

OUTCOME
CONTINUOUS ASSESSMENT – 50%
Tutorial Tasks (F2F & Online) 5% Students will be randomly assessed on 1-6
Week 1-13 tutorial participation.
2.5% will be allocated for each half of the
semester.
Online reading assignments 5% You are required to reflect and comment 1-6
(Perusall) on given readings (refer to Moodle for
- Week 3, 6, 10, 13 further details). Each reading is 1.25%.
Mid Semester Test 2hr test which may include calculations, 1-6
25%
short answers, case study and essay
Undertaken in groups, students to submit 1-6
Group project – Week 10
15% research report and presentation.
FINAL EXAMINATION - 50%
Final Exam 50% 3 hour paper which may include 1-6
calculations, short answers, case studies

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 and essays

14.2 PASSING THE UNIT

To obtain a pass in this course, you must attain a minimum overall pass mark of 50% (i.e. grade C).
This must include a minimum of 40% in the final examination. You must also satisfactorily complete
all components of the assessment. You DO NOT need to obtain a minimum mark in the coursework
element, including the test(s).

14.3 GRADE DISTRIBUTION

A+ A B+ B C+ C D E
85-100 78-84 71-77 64-70 57-63 50-56 40-49 0-39

14.4 ASSESSMENT POLICIES AND REGULATIONS

For detailed regulations, please refer to the USP Handbook and Calendar.

Plagiarism, copying materials from other sources without proper referencing and
acknowledge of the source is a serious offence and will be dealt with severely. In the
Regulations Governing Academic Misconduct section of the USP Handbook & Calendar
plagiarism is defined as “the copying of another person’s creative work and using it as
one’s own – without explicitly giving credit to the original creator. Work copied without
acknowledgement from a book, from another student’s work, from the internet or from
any other source”. If the lecturer is satisfied that plagiarism has occurred, they will report
the matter to the Head of School. They can reduce marks appropriately. If the matter is
seen as serious enough it can be taken to the Student Disciplinary Committee by the
Head of School.

14.5 IMPORTANT DATES

ACTIVITY Weight Week

Tutorial Tasks 5% Throughout the course (refer to Moodle)
Perusall Reading assignments 5% Week 3, 6, 10, 13
Mid semester test 25% Week 7
Group project 15% Week 9 - 13
Final Exam 50% TBA by SAS

15. ADDITIONAL COURSE ATTENDANCE

15.1 TUTORIALS
Please refer to Moodle for details of your virtual tutorials.

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 15.2 LABORATORY SESSIONS
Not applicable

15.3 ONLINE WORK

The course will be administered through Moodle. Course notices, lecture handouts, tutorial
questions, assignments and assessment marks will be posted on the course Moodle page. Therefore,
you should check the site regularly. If you have lost your USP password or do not see your course as
a listed course after login, please contact the ITS student helpdesk. Any other queries regarding
Moodle can be referred to course coordinator (tuiloa_m@usp.ac.fj).
16. STUDENT SUPPORT

16.1 ONLINE HELP & e-Learning INFORMATION

Your main online help is Moodle discussion forums.

16.2 FACULTY STUDENT LEARNING SUPPORT (SLS) SERVICES

SLS can assist you with several learning activities. Please refer to their website:
https://www.usp.ac.fj/index.php?id=8434 . Please note that not all assistances and support
applies to third year accounting students.

17. EXPECTATIONS OF STUDENTS

17.1 STUDENT RESPONSIBILITIES

Students are expected to:

 Thoroughly prepare for and attend all lectures, tutorials, team meetings etc. unless
hampered by illness in which case you must inform your course coordinator and team
members.
 Spend enough time on Moodle and other activities required in the course
 Arrange with the team members to work in their own times on any project.
 Facilitate the course coordinator with any proof that he/she was sick and unable to
attend classes or assessment at the earliest possible time to avoid getting a zero
mark for the missed assessment.

17.2 STUDENT WORKLOAD

This is the capstone course for the Accounting program. Managing your time is of utmost important.
Below is a suggestive time allocation table to assist you. This is based on a per week workload and is
to be taken as a rough guide. Each student should be able to work out what works best for them to
ensure that they successfully pass this course.

TYPE Hour Comments

s
Reading 4 Completing allocated weekly readings from the text
book and making your own summaries.
Online activities 4 Watching online videos/podcasts, participating in
discussion forums and undertaking weekly activities.

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 Assessment 3 This may include working on the group project
(searching, reading, writing, meeting etc) and revising
for tests/exams.
Others 1 This may include discussions with the AF301 teaching
team and with peers
TOTAL 12

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