Some observers argue that compared with positive accounting theories, normative accounting theories play a bigger role in the development of financial reporting practice.

Some observers argue that compared with positive accounting theories, normative accounting theories play a bigger role in the development of financial reporting practice.

0. The full topic is: “Some observers argue that compared with positive accounting theories, normative accounting theories play a bigger role in the development of financial reporting practice.” With the help of examples from research, practice and theory, critically evaluate the above statement.