Reference no: EM13691224

" in generating theories of accounting that are based upon what accountants actually do,it is assumed (often implicitly) that what is done by the majority of accountants is the most appropriate practice. in adopting such a perspective there is in a sense, a perspective of accounting Darwinism - a view that accounting practice has evolved, and the fittest or perhaps 'best', practices have survived. prescriptions or advice has provided to others on the basis of what most accountants do - the logic being that majority of accountant must be doing the most appropriate." (a) Explain the meaning of above paragraph and evaluate the logic of the perspective described. (B) Based on the above paragraph, can we say that the study of financial accounting theory is just a waste of time for accounting students? explain your answer either you agree or disagree.