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    Add as FriendAccounting Theory

    by: Rahmat

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    1 : An overview of normative theories of accounting From Deegan, C. and Samkin, G., Financial Accounting. McGraw-Hill Irwin, New York & Kam, V. (1990), Accounting Theory, 2nd edition, John Wiley & Sons, NY. Prepared By: Dewan Mahboob Hossain Assistant Professor; Department of Accounting & Information Systems; University of Dhaka; Dhaka; Bangladesh.
    2 : Prepared By: Dewan Mahboob Hossain 2 Conventional Accounting: Basic Concepts Conventional objectives of accounting: With the growth of corporations, accounting information has taken greater significance. Why? Separation of ownership and managers. Absentee owners do not possess first hand knowledge of operations and conditions of the firm, and therefore, must depend heavily on accounting reports for information. Also owners and creditors supply the funds to the business entities, they are considered ‘outsiders’ and have no access to the records and accounts of the entity. Accountability, therefore, is crucial. So, conventional accounting objective: focus on the stewardship function of managers.

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