As Watts and Zimmerman (1986, p. 7) state, Positive Accounting Theory is concerned with explaining [accounting] practice.
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As Watts and Zimmerman (1986, p. 7) state, Positive Accounting Theory ‘is concerned with explaining [accounting] practice. It is designed to explain and predict which firms will and which firms will not use a particular accounting method ... but it says nothing as to which method a firm should use’. Do you think that this represents an ‘abrogation’ of the academics’ duty to serve the community that supports them? LO 1.1 , 1.3
, 1.5
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