The main difference between normative and positive (accounting) theories is that normative theories are prescriptive, whereas positive

Fantastic news! We've Found the answer you've been seeking!

Question:

"The main difference between normative and positive (accounting) theories is that normative theories are prescriptive, whereas positive theories are descriptive, explanatory or predictive". J. Godfrey, et el, 'Accounting Theory', 7^thEd.p.29.

Explain and discuss the quotation. Include in your answer an opinion as to whether the two approaches are compatible or incompatible.

Related Book For answer-question

Practicing Leadership Principles and Applications

ISBN: 978-0470086988

4th edition

Authors: Arthur Shriberg, David Shriberg

See More Books

Posted Date: Jun 17, 2024 03:58 AM

See More Questions

Why are countries such as Mexico, Brazil, and India often considered ideal manufacturing bases for global corporations? L01
For each independent case, fill in the missingfigures. Case A Case B Case C Case D Units produced Standard hours per unit Standard hours Standard rate per hour Actual hours worked Actual labor cost...
When an auditor expresses an opinion on the financial report, the auditors responsibilities extend to: a. Expressing an opinion on the appropriateness of the entitys business risk profile. b....
Select all that apply What five areas can supply manager focus on for reduced complexity and exploitation of economies of scale? Multiple select question. Order fulfillment Manufacturing Quality...
QUESTION 1 The bank reconciliation statement of Honshu Ltd for February 2020 is set out below: 1) Bank reconciliation statement on 29 February 2020: < DR Balance as per bank statement Add:...
what do you think is the most important thing that adults can do to facilitate physical and motor development? Why?
The Penguin Textile Company sells shirts for men and boys. Results for January 2 0 2 3 are summarized below. Men's Boy's Total Revenue $ 1 7 2 , 8 0 0 $ 7 2 , 0 0 0 $ 2 4 4 , 8 0 0 Variable costs 1 2...
SINGLE, MARRIED FILING SEPERATELY, OR HEAD OF HOUSEHOLD SINGLE, MARRIED FILING SEPERATELY, OR HEAD OF HOUSEHOLD Over $0 $12,500 $50,000 But Not Over $12,500 $50,000 Tax Due Is 4% of taxable income...
17. S T D -3 -2 graph of glx) 2 The graph of the continuous function g is shown above for -46x4. The Function g is twice differentiable, except at x=0. let & be the function with flo1=-2 and f'(x) =...
Suppose you are a leader of a team working on a complex project. What qualities would you bring to the team?

The main difference between normative and positive (accounting) theories is that normative theories are prescriptive, whereas positive

Question:

Expert Answer:

Practicing Leadership Principles and Applications

Students also viewed these accounting questions