Ontemporary Issues in Accounting and Finance

Discuss what contribution, if any, theory (accounting or finance) has made to the changes recently introduced to Fair Value Accounting by the FASB.

You should use all of the guided reading provided and remember t to use a critical and evaluative approach. You must provide evidence of the research used to support your writing and the conclusions you reach.
Drever, M., P. Stanton, et al. (2007). Contemporary Issues in Accounting. Milton, Qld, Wiley.
Degan, C. and J. Unerman (2006). Financial Accounting Theory. Berkshire, McGraw Hill Education.
Forbes, W., (2009) Behavioural Finance. Chichester, Wiley
Wolk, H. I., M. G. Tearney, et al. (2001). Accounting Theory A Conceptual and Institutional approach. USA, South-Western College Publishing.
Watts, R. L., & Zimmerman, J. L., 1986  Positive Accounting Theory Prentice Hall (some 10/12 copies in the library).
Fisher, C, 2004,  Researching and writing a dissertation for Business students , FT Prentice Hall.
Online book: Contemporary Issues in Accounting Regulation  Chapter 4

Ontemporary Issues in Accounting and Finance

Academic research has no real life relevance and makes no contribution to the development of accounting and/or finance regulation.
Required: write approximately 1,200 -1,500 words (excluding references) on the above proposition. To complete this exercise, students must carry out research and provide evidence of this research in their essays.

Guidance and marking scheme for Essay (above)
In the title we use the term a?real lifea? talking here about real applicability a use of Fair Value for instance a or any other method/regulation/theory actually used that you can evaluate and/or comment on

Define how you intend to use words, i.e. when you write the term a?regulationa? in your essay a what are you talking about, beyond this no need for explanations.

Remember that there are only a limited number of words to be used a do not waste these on lots of explanations a get to the point; be precise in what you say
We want evidence that you understand the role of research, or not, in the production of regulation. If you feel research has made a contribution a demonstrate where and how

Do we have acc theory to assist with regulation development a if yes how/what, if not then what is it all about a you decide .

Remember that the title is about accounting and finance, not just one side here, you need to examine both but we have only spent time on financial regulation so itas the impact of this on financial markets you may want, but donat have to consider.
There is no correct answer to this question, we are looking for evidence that you understand the link between research and regulation in financial accounting a and how this in turn links to financial markets. (Hint: economic consequence & EMH; legitimacy; raindance;)

Ontemporary Issues in Accounting and Finance.

Below is a direct quote from a recent publication: FEE Paper Comparison IESBA Code of Ethics January 2013 a available at index.php?optioncom_content&viewarticle&id1300&Itemid212&langen

a?An individualas objectivity must be beyond question when conducting and reporting on a statutory


You are required to discuss, with reference to the materials studied on this module, and your own research the implications and applicability of the above statement.

Ontemporary Issues in Accounting and Finance

Below is a direct quote from a recent publication: FEE Paper Comparison IESBA Code of Ethics January 2013 a available at regulation and standards. WE want evidence that you are using the research papers you read, without these your mark will be poor a 35% of the marks is for using both the research provided and your own research is the starting point for considering how to approach this, then think about what impacts objectivity: take a questioning view (critical view) of what they do so consider personal ethics, culture, public interest etca¦ refer to the module guide and see what you can gleam from the readings.