Gray, Owen and Maunders (1987) make the following statement in relation to research based on the inductive approach (that is, research based on observing particular phenomena):

Studying extant practice is a study of ‘what is’ and by definition does not study ‘what is not’ or ‘what should be’. It therefore concentrates on the status quo, is reactionary in attitude, and cannot provide a basis upon which current practice may be evaluated or from which future improvements may be deduced. With this comment in mind, do you consider that research based on induction is useful for improving the practice of financial accounting? Explain your answer.

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Specific choices gathering fiscal reports for others to peruse or creating accounting direction or rules for others to follow The better you comprehen... View the full answer