Learn about the positive accounting theory, how it works, and how to use it when reading financial statements.

All public U.S. companies are required to prepare their financial statements as set out by the Financial Accounting Standards Board (FASB), whose standards are generally rules-based. FASB develops ...

Bruns, William J., Jr. "Diversity in Accounting Principles: A Problem, a Strategic Imperative, or a Strategic Opportunity?" Harvard Business School Background Note 193-045, October 1992. (Revised May ...