Articulating Accounting Principles: Classical Accounting Theory as the Pursuit of ‘Explanation By Embodiment’

Purpose - The objective of this paper is to provide a soundly-based epistemological underpinning for the kind of theorisation in which many classical financial accounting researchers engaged and thus to support a renewal of this programme.

Findings - The paper finds that classical accounting research works such as Structure of Accounting Theory can be interpreted as the search for Colemanian explanation by embodiment and that this provides them with a soundly-based pragmatist underpinning for their theorisation.

Practical implications – Such a resumption would contribute positively to future standard-setting.

Originality/value - This paper contributes to the defence of classical financial accounting research from the charge of lacking theoretical rigour.