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Compare public interest theory with private interest theory?

Answer:
Public interest theory of accounting is concerned with achieving publicly desired results which, if left to the market, would not be obtained. The main galvanizer of Public Interest theory is to respond to the demands from the general public in regards to correcting market inefficiencies (i.e. accounting inconsistencies between firms). However, it is difficult to meet demands from all people because competition between demanders is not formally acknowledged by the regulator.

what is private interest theory then?

First answer by ID2423785509. Last edit by S11035312. Contributor trust: 2 [recommend contributor recommended]. Question popularity: 5 [recommend question].

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