The purpose of this article is to demonstrate the Weaknesses
of present methodology of accounting theory. The first section of
the paper includes a critical analysis of the traditional approaches
to the formulation of an accounting theory in the development of
accounting principles and procedures.
In the second part, other approaches such as: positivism,
Instrumentalism, Falsificationism , paradigm, Rationalism and
Against method are explained. The paper concludes, Although
the traditional approaches have reached a higher level of
acceptance, however each of these approaches relies on different
assumptions and unique ways of looking at accounting problems
and research questions.
The new approaches to the formulation of an accounting
Theory differ from the traditional approaches in terms of their
novelty, their less general acceptance, and their reliance on
Verification. They present innovative and more empirically
oriented methods of resolving accounting issues. The influence of
the new approaches is manifested in the accounting literatures of
the last decade.
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