Question

classification of accounting theory

Answer 1

Accounting theory is a set of assumptions, frameworks and methodologies used in the study and application of financial reporting principles.

Answer 2

Classification of accounting theory:

Accounting theory contains all the accounting principles and methodologies. It can be classified into three types namey,

• Accounting structure theory: It is also named as traditional or classical theory, describes the current practices in accounting and the data collection structure and financial reporting.
• Interpretational theory: It emphasizes on providing interpretations and gives a base for evaluating accounting practices, making propositions and resolving accounting based issues.
• Decision-Usefulness theory: It is also called as behavioral theory and emphasises on decision making and on the group behaviour.

Learn more on accounting theory

What do you mean by Accounting Theory? Explain the various Approaches to Accounting Theory.

https://brainly.in/question/9177070

Write a detailed note on the levels of accounting theory

https://brainly.in/question/7688684