ACC 600 - Financial Accounting Theory

Institution:

University of Michigan-Dearborn

Subject:

Accounting

Description:

This course provides an overview of 1) various approaches to accounting theory formulation (including traditional, regulatory, events, behavioral, information processing, predictive, and positive approaches), and 2) alternative asset valuation and income determination models (including historical cost, replacement cost, net realizable value, and present value models, along with the impacts of price level adjustments). Particular attention is directed at how these various approaches impact the state of the art of Accounting and how they influence the future evolution of Accounting. Additionally, the course provides for exploration and critical examination of the evolution and present state of the Financial Accounting Standards Board conceptual framework. The nature of the topics covered will enhance understanding of current and developing generally accepted accounting principles.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Seminar

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.umd.umich.edu/

Phone Number:

(313) 593-5000

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Semester

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