This paper reviews five important works on normative accounting theory: MacNeal (1939), Paton and Littleton (1940), Littleton (1953), Chambers (1966), and Ijiri (1975). It shows that there is not agreement among these theorists on basic assumptions and information needs of the users. This lack of agreement leads to different recognition and measurement proposals. This paper also shows that many of the ideas in accounting that seemed to be novel were anticipated by these early theorists. Finally, it assesses the present accounting practice in the light of these theories.
Mehrani, S., Karami, G., & Taheri, Z. (2013). The Souvenir Of Normative Accounting Theories. Accounting and Auditing Studies, 2(6), 4-19. doi: 10.22034/iaas.2013.105409
MLA
Sasan Mehrani; Golamreza Karami; Zahra Taheri. "The Souvenir Of Normative Accounting Theories". Accounting and Auditing Studies, 2, 6, 2013, 4-19. doi: 10.22034/iaas.2013.105409
HARVARD
Mehrani, S., Karami, G., Taheri, Z. (2013). 'The Souvenir Of Normative Accounting Theories', Accounting and Auditing Studies, 2(6), pp. 4-19. doi: 10.22034/iaas.2013.105409
VANCOUVER
Mehrani, S., Karami, G., Taheri, Z. The Souvenir Of Normative Accounting Theories. Accounting and Auditing Studies, 2013; 2(6): 4-19. doi: 10.22034/iaas.2013.105409
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