Book Description :
Genre : Educational, Accounting
Written By : Gabriel Donleavy
Book Size : 3.52 Mb
This online textbook is a one stop resource for accounting theory. The whole field is covered in plain language.
It begins by explaining what theory is, why and how agency theory underpins accounting and how to distinguish positive from normative theories. The book covers the IASB conceptual framework and its changing emphases, how accounting standards fit within the framework, and how standards exemplify theories of regulation. Capital market theory is covered with minimal mathematics, and accounting pathologies with minimal pontification. Theories of measurement and valuation are explained. Theories of accountability are compared. CSR, sustainability and integrated accounting are evaluated. In the final chapter issues in accounting that could emerge in the next millennium are discussed.
Far more than its wordier competitors, the book aims to develop the readers' ability to think critically about accounting and be aware of its inconsistencies, assumptions and omissions.
Content :
Accounting and Agency Theory
What theory is
Hypotheses
Theories, laws and theorems
Positive facts and normative opinions
Accounting theory, economics and law
Agency theory
The Conceptual Framework
Introduction
Key elements of the framework
The purpose of accounts
Characteristics of accounting that conform to the framework
Accounting elements
Frameworks and legitimacy
Accounting Standards
Introduction to regulation
Introduction to constructionism
Standards based on rules or on principles
Intangibles and goodwill
The reporting entity
Liabilities
Whose fair value?
Table of International Accounting Standards current at the start of 2016
Measurement and Valuation
Introduction
Measurement scales
Valuation
Valuation under inflation
Two approaches and clean surplus theory
Fair value and faithful representation
Accountng and Capital Markets
Does accounting affect stock market prices?
Earnings management
HEURISTICS
Accountability
Introduction
Auditing’s market role
Theories of Accountability
Critical Perspectives in Accounting
Ethical Paradigms of Accountability
Ethics, Ethical Development and Professional Accountants
Accounting Pathologies – Fraud, Failure and Evasion
Audit expectation gap
Fraud
Manipulation and Positive Accounting Theory
Accounting and Business Failure
Theory and Accounting Pathologies
The New Accounting Reports: Sustainability and Integration
Introduction – CSR
The Global Reporting Initiative (GRI)
The International Integrated Reporting Council (IIRC)
Conclusion
The Unfinished Work of Accounting Theory
Space Age Accounting
The Next Hundred Years
The Next Hundred Light Years
Public accounting for the actual public
Deep equity accounting
A Critical conclusion
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