Professional Documents
Culture Documents
TUTORIAL Q
Belkaoui (2000) categorises the historical development of accounting principles in the USA from
1900 to the present into four phases.
Required:
a) How does history describe the Management contribution phase (1900-1933) and what were
the attributes of this phase?
(7 marks)
b) From your own viewpoints, what made the Management contribution phase progressed to
the Institution contribution phase (1933-1959)?
(3 marks)
Describe the role and the effectiveness of any five key players in the development of financial
reporting in Malaysia in ensuring the quality of financial reporting.
(15 marks)
b. One of the phases in the development of accounting principles in the US was the
Institution contribution phase. The phase was marked by the creation and the increasing
role of the institutions in the development of accounting principles. Explain the major
events that occurred during this phase.
(10 marks)
c. Explain the differences in the roles played by the Financial Reporting Foundation (FRF)
and the Malaysian Accounting Standard Board (MASB) in the new framework for
financial reporting in Malaysia.
(5 marks)
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QUESTION 4 (Apr 2018)
(a) The period of 1500-1800 is called the Age of Stagnation when the practice of double entry
accounting spread slowly. The main function of the profit and loss account was to provide a
mechanism for closing books of account and much less for the calculation of profit. Explain
why the single-entry accounting persisted and the calculation of profit was not a priority
during the Age of Stagnation.
(5 marks)
(b) Belkaoui (2000) has identified the significant developments that influence the development
of accounting principles in the USA during the following phases:
Discuss the above phases that influence the development of accounting principles in the
USA.
(10 marks)
(c) Explain the roles played by the Malaysian Accounting Standard Board (MASB) in the new
framework for financial reporting in Malaysia.
(5 marks)
b. Accounting theory and principles have been subjected to a constant reexamination and
critical analysis. Four phases of this process may be identified, namely Management
Contribution phase; Institution Contribution phase; Professional Contribution phase; and
Politicisation phase. With regard to this statement, discuss the Management Contribution
phase and the Institution Contribution phase that influence the development of
accounting principles.
(10 marks)
a. Accounting history is the study of the evolution in accounting thought, practices and
institutions in response to changes in the environment and societal needs. It also
considers the effect that this evolution has worked on the environment. Briefly explain
the importance of accounting history in the development of accounting practices.
(5 marks)
b. Belkaoui (2000) has identified the significant developments that influence the
development of accounting principles in the USA during the following phases;
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iii. Management Contribution Phase
(5 marks)
Required:
Discuss the above phases that influence the development of accounting principles in the
USA.
A. Belkaoui (2000) identified the phases of development of accounting principles in the USA
from 1900 onwards as Management contribution phase, Institution contribution phase,
Professional contribution phase and Politicization phase.
Required:
a. From your own viewpoints, explain how the Management contribution phase moved to
the Institution contribution phase (1933-1959)?
(5 marks)
b. Explain the notable features that characterize the Professional contribution phase and
Politicization contribution phase.
(10 marks)