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Discuss briefly the concept of normative accounting theory

Discuss briefly the concept of normative accounting theory.

Describe TWO (2) main concentrations of normative accounting theory.

What are the main arguments against the historical cost accounting?

Explain the concept of ‘fair value' and outline the benefits to financial statement users of continually revaluing assets to their current value.

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Accounting Basics: Discuss briefly the concept of normative accounting theory

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Accounting Basics: Discuss briefly the concept of normative accounting theory

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