Accounting theory: research, regulation and accounting practice
It is contended early in this book that many accounting students dislike theory, but it is also asserted that for practice to be effective it must be reasoned practice. Theory provides this reasoning. However, in the past most accounting theory books have fallen well short of presenting a coherent explanation of the basis for theory and its relation to accounting practice. Some have simply described current research trends; some have described existing practices as if their mere existence was reason enough for their continued use; while others have deferred to restating current regulations with the implication that they were the theory of accounting!
As the title implies, this book links theory to research and practice and indicates where regulation is necessary to substitute for independently derived theory.