Unit Code: ACC906

Unit Name: Contemporary Issues in Financial Accounting

Description: By its very nature, accounting is a controversial subject. Almost every theory and practice of accounting is vexatious. Numerous matters in dispute have provided points of debate over the years but hardly any issue has been resolved. Instead, the trend has been to move from one unresolved issue to another. Hence, the inventory of unresolved issues has grown larger and larger. The explanation for our inability to resolve issues is said to be found in the way we conceive of the issues. As Sterling (1975) put it, ?we conceive of the issues in such a way that they are in principle irresolvable. The reason we cannot answer our questions is because we phrase the questions in a way that prohibits obtaining answers. We define our problems so that the very definition precludes the possibility of a solution?. This unit therefore aims to develop students? critical thinking skills on important contemporary accounting issues as well as enhance students? understanding of contemporary issues and their implications on accounting theory development and accounting practice. Furthermore, it also aims to foster students? independent thought on contemporary challenges to accounting.

Learning Target Outcomes:

Prerequisite: N/A

Prerequisite Sentence: Completed BCOM Accounting / Bachelor of Accounting

Credit Point: 20

Offered In: Semester 1