OAD 57000 ACCOUNTING THEORY (3)

Examines and evaluates the theories underlying the practice of accounting and financial reporting.  The conceptual basis of U.S. generally accepted accounting principles (U.S. GAAP) is reviewed within the context of policy setting, the economics of reporting regulation, and in comparison with International Financial Reporting Standards (IFRS).  A historical perspective on the evolution of the theories is provided as part of the rationale for the treatment of the financial statement elements.  Cross-listed with /acc-7000'>ACC 7000.