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ACCT6007 Financial Accounting Theory and Practice

Subject Code and Title ACCT6007 Financial Accounting Theory and Practice 
Assessment Critical Analysis   
Individual/Group Individual
Laureate International Universities

Learning Outcomes

  1. Identify the underlying social and corporate imperatives that underlie the accounting conceptual framework.
  2. Identify the key players in Australian financial reporting regulation and articulate the relationship between International Financial Reporting Standards (IFRSs) and Australian Accounting Standards (AASs).
  3. Explain the relationship between accounting theory, the accounting conceptual framework and accounting standards.
  4. Work individually and in groups to identify and apply appropriate accounting standards to a range of authentic accounting scenarios.

Context:

This assignment develops research and critical thinking abilities. It is a critical analysis/review of an academic article.

Changes in technology are impacting accounting and how accountants perform their jobs. Is it a threat or an opportunity for accounting profession? AI and blockchain are few examples.
This activity will provide students information on new trends in accounting field.
 
Instructions:

Download and critically analyse an academic article written by Daniel Hood. This article can be found in the Torrens University library using the following citation:

Hood, D. (2018), Brace yourself for AI & blockchain: There's less threat and more opportunity in emerging technologies than many think Accounting Today. Vol. 32 No. 1, p1-31.3p, Database: Business Source Ultimate


You may use an essay format or any other acceptable academic format for critical review. Use APA referencing style guide. Use minimum 10 academic references.
 
Answer the following questions or topics during your analysis.  


  1. 1. Briefly explore and explain what is Artificial intelligence and Blockchain? How are they currently used in accounting? What is the potential use in accounting in the future?

  2. 2. Describe in detail one case for each how Artificial intelligence is being used in accounting and how Blockchain can be used in accounting.  

  3. 3. Do you disagree with any arguments made by the author? Explain your point of view and provide evidence in support of your point of views.

  4. 4. Comment on how would financial reporting regulation change in the future and with advancement in technologies in accounting?

Academic skills resources: Analysing the Brief, Essay Writing, and Critical Thinking