Accounting can be considered as a “system of thought�,which is developed to assist decision-making process and influence human behavior within a particular setting (Higson,2003). There is a wide range of accounting theories or approaches among which the Positive Accounting Theory (PAT) has recently been emphasized in different accounting literatures. The theoretical approach was first highlighted by Ross Watts and Jerold Zimmerman in the year 1978 and 1979 respectively. Both of these articles have represented criticism based on three different dimensions of accounting theories such as problems in research methods,philosophy of science and a lack of economics-based accounting investigation (Setyorini & Ishak,2012).