ACCT6007: Financial Accounting Theory & Practice – Accounting Conceptual Framework Assignment
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.
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
4. Work individually and in groups to identify and apply appropriate accounting standards to a range of authentic
Answer the following questions or topics during your analysis.
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. Describe in detail one case for each how Artificial intelligence is being used in accounting and how Blockchain can be used in accounting.
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. Comment on how would financial reporting regulation change in the future and with advancement in technologies in accounting?