This paper discusses Kuhn's explanation about the scientific revolutions and paradigm and Chambers' CoCoA theory that challenged the conventional accounting practices and provided an alternative market-based system that is relevant to the decision-making process and user's evaluation in accounting. It also provides a critical appreciation of Chambers' contributions and discusses the critics and acceptance of Chambers in the era of reforms in accounting and in his contemporary period in relation to the changes that have transpired in the accounting world to date.