＂Events＂ Approach to Basic Accounting Theory： How Far Away Can It Go

As a totally new accounting theory, ＂events＂ approach to basic accounting theory tends to reform traditional accounting theory. Its main idea is providing detailed information about economic events that allow individual users to generate their own input values for their own individual decision model. From existing literature, we can find that this theory has not formed a perfect system, study on it is not deep and the theory itself has some drawbacks. The goal of this paper is to introduce this theory systematically. By analyzing the drawbacks of this theory, this paper proposes some solutions to improve it.