Assignment task:The two main theoretical approaches in accounting theory are the

Assignment task:The two main theoretical approaches in accounting theory are the normative approach and the positive approach. The two alternative approaches would generally be appropriate to differing circumstances. This assignment requires you to critique and provide evidence as to the logical reasoning of each approach providing examples of each.Required:Write a research essay on your views as to when each of the two approaches would be appropriate and provide examples of where each of the approaches might be appropriate in the current economic and business environment. Also in relation to accounting theory and research present your views on whether you consider one approach to be preferable to the other.(Note that it is NOT sufficient to merely list down the positives and negatives of each approach. Rather you are required to critique each approach and provide evidence as to the circumstances in which you consider each to be appropriate. Also your arguments MUST be substantially supported by academic literature and other relevant materials to justify your viewpoint).
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