Reference no: EM133007062

Question - Positive accounting, most typically utilised within data collection and bookkeeping, takes an objective approach. Using a company's physical transaction history, it analyses and discerns the ramifications of these expenditures. It compares revenue against expenses to figure out if and why an enterprise is running at a net loss or gain. Building from this knowledge, the theory anticipates how a business will handle future transactions.

(a) Explain how positive accounting theory can enhance our understanding of accounting practices.

(b) Formulate in depth explanation on positive accounting theory with regards to accounting disclosure practice.

Any Financial Accounting and Reporting V experts help me to solve this question. Thank you in advance.