Questions from General Accounting

Q: What is the major difference in orientation between positive accounting theory and

What is the major difference in orientation between positive accounting theory and more overtly normative theories, such as the valuation approaches discussed in Chapter 1?

Q: In what ways does the FASB differ most markedly from its two

In what ways does the FASB differ most markedly from its two predecessors?

Q: Why does the decision-model orientation to research accord more closely

Why does the decision-model orientation to research accord more closely with the standard-setting function than any of the other research directions?

Q: If there has been a paradigm shift (scientific revolution) in

If there has been a paradigm shift (scientific revolution) in accounting research, but not in accounting practice, what may this signifiy?

Q: For a discipline to become a science, the results of experiments

For a discipline to become a science, the results of experiments and research must be exact. Do you agree with this statement? Discuss.

Q: What are the two principal underlying assumptions of agency theory (positive

What are the two principal underlying assumptions of agency theory (positive accounting research)? Critique their role in constructing a theory of accounting.

Q: Do you think that the nonbinding status of the FASB’s statements of

Do you think that the nonbinding status of the FASB’s statements of financial accounting concepts (like that of APB Statement 4) is a good idea or not?

Q: Discuss the significance of the SEC’s ASR 150.

Discuss the significance of the SEC’s ASR 150.

Q: What has been the SEC’s role in the evolution of the rule

What has been the SEC’s role in the evolution of the rule-making process? How has that role changed since the passage of SOX?

Q: “The FASB’s standard-setting procedure is a fairly narrow,

“The FASB’s standard-setting procedure is a fairly narrow, cut-and-dried approach to developing accounting standards.” Evaluate this statement.