Question

what are the modern approach of accounting theory?
​

Answer 1

Answer:

Modern Approach to Accounting:

Under the Modern Approach, the accounts are not debited and credited. Hence, the Accounting Equation is used to debit or credit an account. Thus, it is also known as the Accounting Equation Approach. The Accounting Equation should remain balanced every time.

Hope it helps you.

Please do mark it as a Brainliest answer !

Answer 2

The modern approach of accounting theory is mentioned below :

- According to the modern theory to analyze the aspects of accountancy the accounts are not debited nor they're credited for the calculations.

- Nowadays accounting Equation is used to analyze and calculate the statistics of any account for the both the conditions, i.e , debit or credit.

- Accounting Equation has been the pathway towards the modern approach of accountancy.