Prescriptive Theory

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August 31, 2024 4 min read Definitions
Normative Accounting Theory: Prescriptive Approach to Accounting
Accounting Economics Finance Normative Accounting Accounting Principles Financial Reporting Accounting Theory Prescriptive Theory
Normative Accounting Theory prescribes how accounting should be done, offering guidelines and principles for creating and evaluating accounting practices, contrasting with Positive Accounting Theory, which describes and predicts current practices.
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