ACC 515 Accounting Theory

Fall Semester

This course is a study of the role of accounting in society and the theory that provides the underpinning for modern financial reporting. The course provides an understanding of the issues and development of Generally Accepted Accounting Principles and major stakeholders in developing accounting standards. The course examines the economic forces, competing interests, and regulatory institutions that shape the way regulators make accounting policy choices. In addition to discussing accounting in its familiar role as an income measurement tool and as an input to decisions under uncertainty, students study how efficient markets, compensation practices, debt covenants, and other broad economic consequences impact accounting policy makers. 3 credit hours