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Accounting Theory Formulation: the Methodological Approach

Author

Listed:
  • Oladeji E. OLADUTIRE

    (Department of Accounting, Adekunle Ajasin University, Akungba-Akoko, Ondo State.)

  • Kazeem A. SOYINKA

    (Department of Accounting, Adekunle Ajasin University, Akungba-Akoko, Ondo State.)

  • Mofehintolu T. AKINNOLA

    (Department of Accounting, Adekunle Ajasin University, Akungba-Akoko, Ondo State.)

Abstract

This study delves into the formulation of accounting theory and the various methodological approaches used in this endeavor. It explores the significance of accounting theory in the context of financial reporting, decision-making, and the development of accounting standards. The development of accounting theory from a methodological perspective is a difficult and pervasive subject that affects how financial statements are prepared and presented. The research methodology employed in this study includes a comprehensive literature review, content analysis, and empirical investigation. The findings contribute to a deeper understanding of the evolving nature of accounting theory formulation and its implications for the accounting profession. The study concludes that the positive and normative accounting theory is the first set of accounting theories that produce other accounting theories.

Suggested Citation

  • Oladeji E. OLADUTIRE & Kazeem A. SOYINKA & Mofehintolu T. AKINNOLA, 2023. "Accounting Theory Formulation: the Methodological Approach," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(11), pages 1645-1655, November.
    • Handle: RePEc:bcp:journl:v:7:y:2023:i:11:p:1645-1655
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    References listed on IDEAS

    as
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