OJAcct  Vol.2 No.1 , January 2013
Tutorial Accounting Fundamentals: A New Look of British and American Accounting System
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.

Cite this paper
N. Bhutta and S. Shah, "Tutorial Accounting Fundamentals: A New Look of British and American Accounting System," Open Journal of Accounting, Vol. 2 No. 1, 2013, pp. 16-18. doi: 10.4236/ojacct.2013.21004.

[1]   J. L. Smith, R. M. Keith and W. L. Stephens, “Accounting Principles,” McGraw-Hill, Irwin, 1993.

[2]   J. R. William, S. F. Haka and M. S. Bettner, “Financial and Managerial Accounting: The Basis for Business Decisions,” McGraw-Hill, Irwin, 2002.

[3]   S. Z. A. Shah, S. A. Butt and Y. B. Tariq, “Use or Abuse of Creative Accounting Techniques,” International Journal of Trade, Economics and Finance, Vol. 2, No. 6, 2011, pp. 531-536.

[4]   S. A. Zeff, “Some Obstacles to Global ?nancial Reporting Comparability and Convergence at a High Level of Quality,” The British Accounting Review, Vol. 39, No. 4, 2007, pp. 290-302. Hdoi:10.1016/j.bar.2007.08.001

[5]   L. P. Neelay and F. J. Imke, “Accounting Principles & Practices,” South-Western Publishing Co., Cincinnati 1997.