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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
COURSEWORK Group Assignment

Group assignment of 1,500 words

EXAM Exam S2 2 hrs

A two-hour exam


A 30 minute multiple choice test


Teaching and Learning Strategy


One 2-hour lecture per week.

Private study 160

Transferable skills

  • Literacy - Proficiency in reading and writing through a variety of media
  • Numeracy - Proficiency in using numbers at appropriate levels of accuracy
  • Computer Literacy - Proficiency in using a varied range of computer software
  • Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
  • Exploring - Able to investigate, research and consider alternatives
  • Information retrieval - Able to access different and multiple sources of information
  • Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
  • Presentation - Able to clearly present information and explanations to an audience. Through the written or oral mode of communication accurately and concisely.
  • Teamwork - Able to constructively cooperate with others on a common task, and/or be part of a day-to-day working team
  • Management - Able to utilise, coordinate and control resources (human, physical and/or financial)
  • Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting
  • Self-awareness & Reflectivity - Having an awareness of your own strengths, weaknesses, aims and objectives. Able to regularly review, evaluate and reflect upon the performance of yourself and others
  • Leadership - Able to lead and manage, develop action plans and objectives, offer guidance and direction to others, and cope with the related pressures such authority can result in


Talis Reading list

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. (2017). Financial Accounting and Reporting, 18th ed. FT Prentice Hall.

Courses including this module

Compulsory in courses: