This book defends the view that an award of an account of profits (or 'disgorgement damages') for breach of contract will sometimes be justifiable, and fits within the orthodox principles and cases in contract law, and examines the circumstances in which such an award should be made.

“Accounting Theory and its Practice” is a comprehensive book that explores the dynamic interplay between accounting theory and its real-world application. Authored by renowned experts in the field, this book offers valuable insights into the theoretical foundations of accounting and how these theories are put into practice in diverse business contexts. The book delves into the conceptual underpinnings of accounting, providing readers with a solid understanding of the fundamental principles that govern financial reporting and analysis. It discusses various accounting theories, including normative theories (which prescribe how accounting should be done), positive theories (which seek to explain how accounting is actually practiced), and critical theories (which analyze the broader socio-political implications of accounting practices). This multi-dimensional approach helps readers appreciate the complexity and depth of the accounting discipline. One of the strengths of “Accounting Theory and its Practice” is its focus on the practical application of accounting theories. It highlights the role of accounting standards, such as Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), in shaping financial reporting practices across the globe. The book also offers real-world examples and case studies that illustrate how accounting theories are translated into financial statements and disclosures, demonstrating the relevance of theory in day-to-day accounting tasks. The book delves into contemporary accounting issues, including sustainability reporting, the impact of digital technologies on accounting practices, and the evolving role of accountants in an increasingly complex and globalized business environment. It provides a holistic view of accounting’s role in decision-making processes, showing how it informs financial decisions, corporate governance, and regulatory compliance.

Focuses On The Theory Part Of Advanced Accounting. Covers Theories Of Accounting, Accounting Standards, Measurement Of Income, Charging Prices, Human Resource Accounting, Social Responsiblity Accounting, Mechanized Accounting, Valuation Of Shares And Reporting. In Question-Answer Format, Useful For Mcom Students.

The main objective of this book is to facilitate the students to understand the underlying regulatory process of financial accounting reporting, companies’ manager behaviour when preparing their financial reports, corporate governance and theories applicable to accounting practice explaining the circumstances given in the current phenomenon. The content of this book provides a useful insight to it readers about the development of accounting system in Malaysia, the conceptual framework that underpinned accounting practice particularly the regulatory and professional bodies, the general theories underlying the current practice of accounting reporting, standards and practice, and contemporary issues in financial accounting reporting such as measurements, sustainability reporting and digitisation reporting.

The seventh edition of this text has been developed to ensure it still meets the needs of lecturers. The book integrates financial and management accounting and offers a clear treatment of the theory and practice of modern accounting.