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Accounting theories Question

Assignment Question 4

Assessment

As a Business student, you just started an internship with an Accounting Research Firm. Your reporting manager would like to assess whether you are familiar with relevant Accounting theories and can apprise with practical implications. Thus, you are required to address following requirement:

  1. Give a brief introduction about three widely used Accounting theories including Agency and Stewardship theory.
  2. Search Three journal papers from Google scholar that used Agency theory. This journal articled should be published from 2005 to onwards and explain followings:
    1. What was the purpose of that investigation?
    2. How this theory was related with the purpose of that paper?
    3. What is the findings?
    4. What is the implications and future avenues from that paper?
  3. Search Two journal papers from Google scholar that used Stewardship theory. This journal articled should be published from 2005 to onwards and explain followings:
    1. What was the purpose of that investigation?
    2. How this theory was related with the purpose of that paper?
    3. What is the findings?
    4. What is the implications and future avenues from that paper?

    In addition, there is a meeting with a potential client who is interested to know about Conceptual Framework and Accounting principles. Thus, your line manager asked to address the following question for the discussions.

  4. Liabilities are all ‘obligations’ under the Framework definition of liabilities. What is an obligation, and why does the Framework rely heavily on it in the definition?
  5. If a liability is a present obligation, does that mean that a legally enforceable claim must exist before a liability exists? Explain. Conversely, if a legally enforceable claim exists, does that mean that a liability must exist? Explain.