DP - 2023 May 25,
TA - Journal of Business Strategy Finance and Management
PG - 58-61
VI - 16
IP - 18
4099 - www.jbsfm.org/article/58/
4100 - www.jbsfm.org/article/58/
AB - I as a reviewer of this book, would like to reiterate the words of Albert Einstein – “Creativity is seeing what others see and thinking what no one else ever thought”.

The golden rule of accounting become disastrous when non-commercial background practitioners and management team members is faced with discontinuous change since 15th centuries.

This work is conceptualised and authored under the new pedagogical tool named as ‘Modern Approach of Accounting’, by Paresh Shah. The nature of account is emphasis on the five parts as per Modern Approach of Accounting (MAA) and replaced the age-old traditional concept of three types of account.

This book demonstrates throughout in his book, that Modern Approach of Accounting – believes in dichotomies – the sum of left-hand side of arithmetic equation equals the sum of right-hand side of arithmetic equation, - five types of nature of accounts, - debit and credit word itself has no meaning and significance, in the today’s state-of-art-technology, and for better and lucid understanding of accounting and in turn its use in decision-making.

The legacy of conquest of Modern Approach of Accounting must be reckoned with the same way the Golden rule of accounting trying to reckon with three types of traditional accounts.

The book is quite useful for non-commerce background reader, management students, and computer software and state-of-the-art technological software developer in the field of Information, Communication and Technology (ICT). Keywords: Accountancy; Accounting process; Adopted approach, Event; Five parts of accounts; Modern Approach of Accounting; Traditional Approach.