Module ASB-3211:
Adv.Accounting Theory & Pract

Module Facts

Run by Bangor Business School

20 Credits or 10 ECTS Credits

Semester 1 & 2

Organiser: Prof Doris Merkl-Davies

Overall aims and purpose


If you register for this module, you cannot also register for ASB-3107 Marketing of Services or ASB-3113 Marketing Communication.


  • To critically evaluate the various theories in accounting; and to understand how accounting theories can be used to explain the behaviour of preparers, users and regulators of accounting information;
  • To develop knowledge and skills in understanding and applying selected accounting standards and the theoretical framework in the preparation of financial statements;
  • To prepare financial statements in accordance with international accounting standards.

Course content

  • Normative theories of accounting;
  • Positive accounting theories;
  • Behavioural accounting theories;
  • Systems-oriented theories;
  • Critical accounting theories;
  • Conceptual frameworks for financial reporting;
  • A regulatory framework for financial reporting;
  • Presentation of financial statements;
  • Specific issues, including financial instruments, leases, liabilities, employee benefits, share-based payments, taxation.

Assessment Criteria


Conceptual issues are covered in a superficial way with only limited additional material shown beyond the lecture content but with few errors. Some detail knowledge of Accounting Standards shown.


Conceptual awareness shown beyond the basic level with evidence of greater depth of reading and development of ideas but may still show some errors or misunderstanding. Good illustration of the content of Accounting Standards combined with the theoretical insight above.


Demonstration of depth of reading and thought at the conceptual level, and detailed Accounting Standards knowledge, together with a detailed and intelligent interweaving of theory and practice.

Learning outcomes

  1. Critically evaluate the strengths and weaknesses of various accounting theories.

  2. Analyse the development and intellectual underpinning of rival theories that seek to explain accounting behaviour.

  3. Discuss and apply a conceptual framework for financial reporting.

  4. Discuss a regulatory framework for financial reporting.

  5. Prepare an entity's financial statements in accordance with international accounting standards.

Assessment Methods

Type Name Description Weight
Group Assignment 20
Case Study 20
Exam S1 2hrs 30
Exam S2 2hrs 30

Teaching and Learning Strategy


One 2-hour lecture per week.

Private study 160


Reading list

  • Deegan, C. and Unerman, J. (2011). Financial Accounting Theory. European 2nd ed. McGraw-Hill.
  • Rankin, M., Stanton, P., McGowan, S., Ferauto, K., and Tilling, M. (2012). Contemporary Issues in Accounting. 2nd ed. Wiley.
  • Elliot, B. and Elliot, J. (2015). Financial Accounting and Reporting, 17th ed. FT Prentice Hall.

Courses including this module

Compulsory in courses:

Optional in courses: