ACCOUNTING THEORY AND PRACTICE (FAR 600)
Teaching and Learning Arrangements
(SEMESTER: JAN 2007 – APRIL 2007)
COURSE CODE : FAR 600
PROGRAM : BACHELOR OF ACCOUNTING (HONS)
CREDIT HOURS : 4
CONTACT HOURS : 4
STATUS : CORE
This financial accounting course exposes students to accounting theory, corporate accounting policies and financial reporting practices. The importance of history is introduced through a brief discussion on accounting history from both experiences of both western and Muslim Civilization. In understanding the theoretical framework of accounting, the various perspectives on ...view middle of the document...
On completion of the course the student should be able to:
i. Appreciate the importance of accounting history
ii. Understand the theoretical framework of accounting and the various perspectives on financial accounting theory.
iii. Comprehend the conceptual framework and its use in the adoption of accounting policies in the preparation of annual reports.
iv. Critically evaluate accounting standard requirements and its suitability in adopting an applying accounting principles and policies.
v. Understand the regulatory process and appreciate the reporting requirements in the preparation of annual reports.
vi. Discuss contemporary accounting and reporting issues in the reporting environment.
|TOPICS |DETAILED TOPICS |WEEK |READING |
|PART A: |ACCOUNTING THEORY | | |
|1. Introduction to Accounting|Introduction & Evolution of Accounting Theory |1 |A.,Belkaoui,, chapter 1 |
|Theory |History and development of accounting | |Main text, chapter 1 |
| |Purposes of accounting theory | | |
| | | |Articles on Islamic accounting : |
| |An introduction to the importance of accounting history and the | |Shaari Hamid |
| |development of double entry bookkeeping in the west is discussed.| |Omar A. Zaid |
| |The influence of capitalism in accounting is analyzed and the | |Askary, S and Clarke |
| |accounting practice in Islam is examined. | | |
|2. Theory and Method | |1 |Main Text, Chapter 2(page17 – 28) |
| |Theoretical Framework of Accounting & Accounting Perspectives| | |
| |Range of accounting theories | | |
| |Theory Formulation | | |