A research is not a ‘wild-goose chase’ but a structured approach to finding solution to a problem. This implies that every research ought to be anchored on established formal statement of rules on which the subject matter of study is based or on proposed statement of rules based on perceived relationships between variables or phenomena being studied. This fact underscores the need for the application of theories and theoretical framework in research. There are many theories that are relevant in research works in the field of Accounting and Finance. Some of these theories are indigenous to accounting and finance while some others are borrowed from other fields of study to explain appropriate phenomena in accounting and finance. An important approach in research is to think about and attempt to understand specific research problems from an interdisciplinary perspective. This chapter examines some of the theories that are relevant to research in Accounting and suggests some areas of study where they can be applied.
