Create a 7 page essay paper that discusses ‘Accounting theory and methodology are a waste of time’. Critically evaluate this statement and provide examples to illusrate your answer.There is no practic

Create a 7 page essay paper that discusses ‘Accounting theory and methodology are a waste of time’. Critically evaluate this statement and provide examples to illusrate your answer.

There is no practice that can succeed without a very strong theoretical base. There are rules and principles that have been developed and they are based upon past practices of successful accountants. A lot has changed in accounting due to the rapid changes in economic and social environments. Some of the principles and rules that were developed earlier on are longer applicable.

Haven’t Found The Relevant Content? Hire a Subject Expert to Help You With
Create a 7 page essay paper that discusses ‘Accounting theory and methodology are a waste of time’. Critically evaluate this statement and provide examples to illusrate your answer.There is no practic
Post Your Own Question And Get A Custom Answer
Hire Writer

Thus accountants are faced with new problems that can not be solved with the traditional explanations of accounting. New areas are emerging in accounting such as social accounting, inflation accounting and human resource accounting (Porwal 7).

Methodology is important in creating an accounting theory. There are two methods of reasoning that are applied in accounting research methodologies. inductive and deductive. The two reasoning are as a result of differences in values, opinions and approaches between accounting research and accounting practice (Porwal 8).

There are two types of accounting theories. the proposal or the normative type and the descriptive or the positive type. The normative type proposes alternative ways of accounting, for example, alternative method of assets valuation either by the market value or the present value. The positive type analyses and explains the existing modes of accounting, for, example, the real functions and social significance of today’s accounting systems (Fujita and Jinnai 283).

Development of accounting theories began in the early 1900. The first attempt has been attributed to William Paton and John Canning. Paton was among the first people to propose the inclusion of the changes in the value of liabilities and assets in financial statements. The changes were to be measured on a current value basis. Canning’s framework of asset valuation was based on future expectations and a model to match expenses and revenues. DR Scott made contributions to the development of normative theory. His views are reflected in publications “The Basis

myhomeworkgeeks (28431)
New York University
15 MILLION STUDENTS HELPED!

Hire an Expert to Help you

Hire Verified Expert

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
Have a homework question? Get help from verified tutors now!

Are You Looking For Assignment Help? We Can Certainly Assist You

Sometimes it is hard to do all the work on your own

Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;

  • ~Dissertations
  • ~Essays
  • ~All Assignments

  • ~Research papers
  • ~Term papers