Development of Principles and Formulation of Accounting Theory

AFRAG052

Development of Principles and Formulation of Accounting Theory Onuche, Sarah-Joy Eleojo¹ Correspondence Author: sarah.edibo@gmail.com

+2347038061139

Okezie, Stella O.2 Nwawuru, Clifford3

Department of Accounting, Michael Okpara University of Agriculture, Umudike, Abia State

Abstract

While accounting appears to have been practiced at least since the beginning of recorded history, accounting theory is of comparatively recent origin. This may be due to the difficult, abstract nature of accounting thought, or perhaps to a gradual change in the scope and methods of

accounting, which was thereby rendered more amenable to the formalized type of explanation which we call theory. Possibly there is some other cause; it is a matter for conjecture.

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