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Title: :  Three Sided Accounting System
PaperId: :  5268
Published in:   International Journal Of Advance Research And Innovative Ideas In Education
Publisher:   IJARIIE
e-ISSN:   2395-4396
Volume/Issue:    Volume 3 Issue 1 2017
DUI:    16.0415/IJARIIE-5268
Licence: :   IJARIIE is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Author NameAuthor Institute
Abhinav UpadhyayAmity University

Abstract

Accountancy
Double entry system, Financial Accounting, New Accounting Method
Double entry system of accounting and the financial statements generated from the books of account maintained on such system have inherent limitations. One of the important limitations of double entry system is the omission of non-financial transactions. In the present scenario there is a need to have a superior system of accounting which will consider not only such non-financial transactions but will also consider the other quantifiable data which will make these financial statements more meaningful. In this article, an effort has been made to discuss a potential new system of accounting, which can be called 3-dimensional system of accounting which will consider all three types of transactions namely; Category I - Transactions having only monetary effect; Category II - Transactions having monetary as well as quantity [3D] effect. The article also deals with a number of such areas where the presentation of financial statements will become more reliable and compliant with statutory requirements by applying the new method of accounting.

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IJARIIE Abhinav Upadhyay. "Three Sided Accounting System" International Journal Of Advance Research And Innovative Ideas In Education Volume 3 Issue 1 2017 Page 1153-1157
MLA Abhinav Upadhyay. "Three Sided Accounting System." International Journal Of Advance Research And Innovative Ideas In Education 3.1(2017) : 1153-1157.
APA Abhinav Upadhyay. (2017). Three Sided Accounting System. International Journal Of Advance Research And Innovative Ideas In Education, 3(1), 1153-1157.
Chicago Abhinav Upadhyay. "Three Sided Accounting System." International Journal Of Advance Research And Innovative Ideas In Education 3, no. 1 (2017) : 1153-1157.
Oxford Abhinav Upadhyay. 'Three Sided Accounting System', International Journal Of Advance Research And Innovative Ideas In Education, vol. 3, no. 1, 2017, p. 1153-1157. Available from IJARIIE, http://ijariie.com/AdminUploadPdf/Three_Sided_Accounting_System_ijariie5268.pdf (Accessed : ).
Harvard Abhinav Upadhyay. (2017) 'Three Sided Accounting System', International Journal Of Advance Research And Innovative Ideas In Education, 3(1), pp. 1153-1157IJARIIE [Online]. Available at: http://ijariie.com/AdminUploadPdf/Three_Sided_Accounting_System_ijariie5268.pdf (Accessed : )
IEEE Abhinav Upadhyay, "Three Sided Accounting System," International Journal Of Advance Research And Innovative Ideas In Education, vol. 3, no. 1, pp. 1153-1157, Jan-Feb 2017. [Online]. Available: http://ijariie.com/AdminUploadPdf/Three_Sided_Accounting_System_ijariie5268.pdf [Accessed : ].
Turabian Abhinav Upadhyay. "Three Sided Accounting System." International Journal Of Advance Research And Innovative Ideas In Education [Online]. volume 3 number 1 ().
Vancouver Abhinav Upadhyay. Three Sided Accounting System. International Journal Of Advance Research And Innovative Ideas In Education [Internet]. 2017 [Cited : ]; 3(1) : 1153-1157. Available from: http://ijariie.com/AdminUploadPdf/Three_Sided_Accounting_System_ijariie5268.pdf
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