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Positive Accounting Theory: A Critique

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  • Suyash Kamal Sinha

Abstract

The primary objective of Positive Accounting Theory (PAT) is to explain as well as predict accounting practices in contrast to the Normative Accounting Theories, which are prescriptive in nature and which were a dominant part of accounting research till the two controversial articles were published by Watts and Zimmerman in 1978. It was a revolutionary idea, which raised a number of issues prompting researchers to debate the technical issues concerning research methods, issues related to philosophy of science and issues concerning economics-based research in accounting. This paper attempts to review these issues and the validity of the questions raised from such issues involved. As pointed out by various authors, there is a need to integrate the two approaches of the discipline to evolve its full potential. The best theory or the approach emerges not in isolation, but as a result of intense arguments, giving due weight to the others’ view point.

Suggested Citation

  • Suyash Kamal Sinha, 2008. "Positive Accounting Theory: A Critique," The IUP Journal of Accounting Research and Audit Practices, IUP Publications, vol. 0(4), pages 7-16, October.
    • Handle: RePEc:icf:icfjar:v:07:y:2008:i:4:p:7-16
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