Accounting theory and practise

The nature of any theory is to provide a logical basis for the practice or procedure to which the theory is applied. Accounting theory has evolved over a long passage of time during which substantial changes in human behaviour and market structures have taken place.

There are two main types of accounting theory that impact the practice of accounting:  Normative theory concerns how things should be done. For example, ideas about the meaning of economic income can influence the way in which regulators decide that accounting systems should measure profit.

In contrast, positive accounting theory tries to explain why things are the way they are. For example, why managers choose a particular accounting method over another, or choose not to invest in research and development activities. For policy-makers to make changes to accounting systems, they not only need to know what they are trying to achieve, they also need to understand why people are currently behaving differently and how any changes will

affect them. They will refer to normative theory for the former, and positive theory for the latter. Positive accounting theory is tested by gathering and analysing data. Usually, researchers either study a single organisation in great depth over a long period of time, or they collect a smaller amount of data about a much larger number of organisations. Analysing a single organisation may mean that the research findings are not generalizable to other organisations. However, analysing a large number of organisations to reach conclusions about the ‘average’ organisation, does not tell very much about individual cases.

Usually financial reporting provides information to users who are not normally involved in actually running the organisation. These users are external to the business. They include actual and potential shareholders, lenders and other investors. They may also include customers, suppliers, the government, and the general public. We have also seen that management use accounting information themselves. Directors, other managers, and employees are internal to the business, and use information to make economic decisions.

External users may wish to make both economic decisions and legal/stewardship decisions

These different types of decisions require different types of information. There is usually a trade-off between:

relevant information that can influence decisions about the future or confirm the outcome of a past transaction, and reliable information that is free from errors and bias and which faithfully represents economic reality. Economic decisions need forward-looking information. This information is unlikely to be reliable as no one has a crystal thought that can predict the future with total accuracy! Legal and stewardship decisions need information about the past. It is usually important that this information is very reliable, as getting it wrong may result in fines and penalties.

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Learn To Practise Stable One Plane Swing

One plane swing is used by many top famous golf stars, such as Callaway golf clubs professional Ernie Els, Nike golf clubs athelets Tiger Woods and Anthony Kim. Els changed into one plane swing from 2009. One plane swing fits in the human structure mechanics and makes player fully use different parts of body to hit the ball. So it is an effective swing method. Meanwhile, the entire swing process is quite simple, so that users only need to focus on several key steps. But you’d better practice with your coach next to you. If you learn from books or video online and then practise by yourself, it is difficult to find out your wrong tricks, such as whether your hip center of gravity or head move or not. Of course, if there is equipped with high-power camera, it must be perfect. In that case, you are able to see more details, such as whether your wrist delay to swing downward. These details are hard to find out because your swing speed and rhythm are faster than your eyes.

Practise One Plane Swing

1. Don’t move your head on the process of backswing. Do not be behind the ball.

2. Just thing of swing around yourself instead of pulling with your left arm if you are a right handed player.

3. During the process of downward swing, turn your body as hard as possible and hit the ball with right hand.

4. Keep your arms close to the underarm and your spine 45 degree down to lower the gravity center of your body.

5. Stand with feet wider than shoulders.

There is one more point you need to pay attention, adding up and down to swing. Just bend over more at address and extend your butt out a little more than normal condition. You can think of your hip end pushing up against a wall at address and staying there during the swing. This may need you lower your body and adjust the lie angle of your golf clubs, so as to produce more accurate shots. Your back muscles and hip muscles may sore, which is a normal phenomenon. Keep in mind, do not turn your shoulders at a steeper angle. Or you will tilt forward on the backswing and backward on the forward swing.

One plane swing makes most golf players feel the best results and effectively use every parts of your body muscles to swing. If you determine to hit a draw, your arm begins to rotate earlier in the swing and you may easily control your hitting. Aim at the right of the golf clubs and swing, do not worry about any misshot. 

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Golfclubshot is a golf fan, 25 years old. He loves music, sports and travel. Like many young people, he spends a lot of time on surfing on Internet. He is strongly interested in anything new and strange. As an editor of, he writes most on golf news, golf clubs reviews, famous golfers, golf playing skills and tips for selecting suitable golf clubs.

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