The Demand for and Supply of Accounting Theories

The Story of an Hour: The title refers to the actual duration of the story. All the events that take place in the story can happen in the time frame of an hour.

The Story of an Hour: The first sentence sums up all that is wrong with suspense in this story, "Knowing that Mrs. Mallard was afflicted with a heart trouble, great care was taken to break […] the news of her husband 's death.” In The Interlopers, story pertaining details were introduced as scene-setting, a subtle plot-motivating technique this story abandons. The remaining “suspense" is developed entirely through Mrs. Millard’s hyperactive imagination as she dreams of the future. Her euphoric visions are repeated, and repeated again. An uneasiness is created for the sole reason that most people know that sane people don’t think this way. Ultimately, the lazy suspense building cheapens the ending and while successfully creates tension, dissolves itself by being overly obvious and unvaried.

If some research is undertaken that provides evidence that capital markets do not always behave in accordance with the Efficient Market Hypothesis, does this invalidate research that adopts an assumption that capital markets are efficient?

" Story of an hour " itself is a metaphor for the small amount of time it took for an entire view on life to change, the woman admitting to herself she had a miserable marriage and then dying did not actually take place in an hour, it is representative of how great of a change a single moment can make.

The purpose of accounting is to record the financial information, such as transactions and performance, related to a business. The accounting profession has been in existence for as long as business transactions have occurred. It wasn’t until 1494, however, when Luca Pacioli, a Venetian merchant, wrote Summa de Arithmetica, Geometrio, Proportioni et Proportionalita. His writings described a two-entry system of debits and credits, which became the basis for modern accounting systems. Three centuries later, with the emergence of the Industrial Revolution and the development of corporations, the profession of being an accountant became a necessity to keep track of the rising costs and cash flows. As a result, the American Association of Public

MC Wells ‘A Revolution in Accounting Thought’. The Accounting Review. V.LI. No.3. July 1976. pp471-82. The article does not have an abstract – write an abstract of no more than 400 words. A short guide to writing an abstract is provided. ----Answered by Wenxin

When talking about accounting, the first thing we should know is the history of its development. Traditionally, the development is from inductive to deductive. Inductive theory assume what is done by the majority is the most appropriate practice. However, It did not seek to evaluate the logic or merit of

In this article, Miller et al. concern about the understanding of the historical foundation of accounting practice by investigating how theories of costing and budgeting were constructed in the first thirty years of the 20th century. In addition, the authors suggest several radical factors of theoretical understanding of accounting in relation to the other social and organizational practices.

This chapter begins by looking at the literature that will give considerable information about Management Accounting and the practices of Small and medium Enterprises, bringing out the interdependence and interrelation of one to the other.

According to Oluwadare and Samy (2015) from the Canadian Social Science, Critical Accounting Theory is about understanding accounting in the context of its broad socio-politics, evaluating the accounting policies and practices that exist, and offering means of working towards more enabling accountings. It generally puts a focus on accounting’s role to keep those in control of particular resources in their positions while those without any capital to have their voices undermined or restricted. Critical theory advances beyond the rational view of the traditional functionalist in terms of accounting and accounting research. It aims to help in the disclosure of the accountability of organisations as well as increasing the environmental stability. This is theory is contextual, meaning it focuses more on political, economic and social consequences (Laughlin, 1999). It could be said that it is similar to corporate social responsibility, but it is actually beyond that as corporate social responsibility has a tendency to focus on the parties that can potentially be affected by the decisions of the firm, inadvertently ignoring minor parties, while Critical Accounting Theory wants to put the focus on society as a whole. In his research, Laughlin (1987) states that there are three relevant points of the critical theory for accounting research. Firstly, the critical accounting theory creates a link between theory and practice. Secondly, critique, change and

The Normative theory of accounting prescribes the accounting treatment and disclosure requirements for a particular scenario. Whereas, the positive accounting theory is a method which tries to explain and predict a particular scenario and the resultant accounting treatments an entity would adopt but does not prescribe a concrete set of rules or treatment.

The definition of accounting theory according to Coetsee (2010) is described in two different ways. The first philosophy concludes that accounting theory is a set of general principles that guide the evolution of accounting practice. The other philosophy describes accounting theory as activity of explaining and predicting accounting practice. What the viewer can see from the statement of the first philosophy is that the accounting theory exists before accounting practices meanwhile the latter states that the accounting practice exists before the theory. Since there are many arguments about this matter, many academic researchers have concluded that accounting theory can be divided into two categories which are positive and normative theory.

Accounting is the language of business. It is a profession that is being guided by principles, concepts, conventions, laws, etc. All these fundamental building blocks serve as common and general compasses to all practitioners of the profession. In some cases, they are nation-wide tailored, while in other cases, they are universally tailored. Accounting as a living, practical, dynamic and realistic profession covers so many areas of social, economic (business), and governmental activities. Surely, any endeavour that involves monetary and material activities create a room for the services of Accounting. Many of the human endeavours for which the accounting profession plays significant (some times inevitable) roles include; Banking, Insurance, Manufacturing, Farming Contracting, Oil and Gas, Mining, Transportation (Air, Land and Sea), Educational Institutions, Churches, Ministries, ICT, Hire Purchase, Local Government Authorities, Estate Businesses, Export and Import Businesses, Bill of Exchange Transactions, Royalties Transactions, Consignment Transactions, Stock Market Transactions, Sports, Entertainment, Hospitals and Hospitality Industry, etc.

An important function of the accounting field is to provide external users of financial statements with assurance that the financial information being presented is both reliable and accurate. This basic function of accounting is so important that there is an entire field of experts, called auditors, dedicated to assuring its proper performance. Throughout history there have been many instances in which the basic equilibrium between an institution and current/potential investor has been threatened due to a lack of accountability and trust between the two parties. This issue has been the catalyst for many discussions regarding the proper procedures a firm should follow in order to provide

The Burns and Scapens framework for analyzing managerial accounting change was built on the study of old institutional economics, which sees "economics as a process of social provision, subject to multiple and cumulative causation." This view culminates in a model that argues that the managerial accounting practices at institutions are subject to a process of constant change, influenced by routines and rules. The institutions contribute to these routines and rules, but so do actions on the part of managers within the institutions. By combining multiple influences over time, we arrive at modern managerial accounting practice. In other words, Burns and Scapens tells us that managerial accounting practice changes over time, influenced by a number of factors including rules, routines and actions.