Explain the difference between (PAT) and normative accounting theory (NAT)

Other

Explain the difference between (PAT) and normative accounting theory (NAT) and the factors that led to the development of PAT of accounting policy choice. Use examples where appropriate to do so.In setting accounting standards which of these accounting theories (positive or normative) would be applied? Explain your answer clearly giving reasons for your choice.

2000 words ±10% words (excluding references and appendices)

Havard style referencing

10 references at least nothing less, 10 on the dot.

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