The Development of Theory in Accounting Research

Abstract

Accounting is a field that operates within an ever-changing environment. In terms of accounting research, development of theory is a central activity crucial to the advancement of knowledge within the discipline. To aid in the development of accounting information, standard setting bodies have developed a foundation of concepts embodied within a conceptual framework. This paper explores the literature related to theories used in accounting research, and provides commentary on the contributions made by the Financial Accounting Standards Board's Conceptual Framework Project.