What is American approach? Why do we use it inspite of Modern
approach or Enlish approach ?
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Answer / shahid raza
To avoid the drawbacks of golden rule plz use this concept:-
According to American approach there are five types of
accounts:1.Assets A/c,2.Expenditure A/c,3.Capital
A/c,4.Laibilities A/c,5.Revenue A/c.
For Assets A/c & Expenditure A/c:
Whenever it increases - Debit
Whenever it decreases - Credit
For Capital A/c,Laibilities A/c and Revenue A/c:
Whenever it increase - Credit
Whenever it Decreases- Debit
I ensure all the viewers that you will like this concept.
Regarding this concept & all basic concepts of accaunting
you can ask me on :
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