TITLE:
Tutorial Accounting Fundamentals: A New Look of British and American Accounting System
AUTHORS:
Nousheen Tariq Bhutta, Syed Zulfiqar Ali Shah
KEYWORDS:
Accounting Fundamentals; American Accounting; British Accounting; Students’ Perceptions
JOURNAL NAME:
Open Journal of Accounting,
Vol.2 No.1,
January
30,
2013
ABSTRACT: This paper aims to highlight the perception of graduate and undergraduate students regarding accounting fundamentals across British system and American system. The design of this paper is to derive a unique model which proves the both approaches are in same sense however, they are framed differently. Moreover, it provides a good justification of basic questions like why income and expense are treated as credit side and debit side of trading profit and lossaccount, respectively. Ultimately, it helps educators/instructors in influencing the perceptions of their students with regard to different accounting systems.