BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -What is Accounting Theory? An accounting theory is a notion that uses speculations, methodologies, and frameworks in the study of financial reporting (as well as how financial reporting principles are applied in the accounting industry).

Detailed explanation-2: -The theory base of accounting consists of principles, concepts, rules and guidelines developed over a period of time to bring uniformity and consistency to the process of accounting and enhance its utility to different users of accounting information.

Detailed explanation-3: -Accounting theory provides a guide for effective accounting and financial reporting. Accounting theory involves the assumptions and methodologies used in financial reporting, requiring a review of accounting practices and the regulatory framework.

Detailed explanation-4: -It helps to build an approach towards accounting practices. It covers not only present scenario, but also covers future development in an economy. Thus, Accounting theory refers to the brief set of principles, doctrines, conventions, concepts related to accountancy, evolved by analysing the accounting practices.