Abstract: The particular article shades light on the concept of conventional accounting and modern accounting methods. Conventional accounting refers to the traditional way of recording accounting information where any type of technology is not used whereas the modern accounting method refers to the use of modern technologies and software. The study includes brief discussion about both of these methods of accounting but it majorly focuses on the correlation between conventional accounting and modern accounting methods. Cash book and ledger are the instruments of conventional accounting methods whereas asset, liability, revenue, capital, drawings and expenses are the instruments or methods of modern accounting. There are vital differences between conventional accounting and modern accounting methods. In regard to this, specific sources and methods are used for gathering data and evaluating them.
It is important to maintain a proper structure while evaluating findings and data for making it meaningful to the readers. Primary quantitative design has been adopted and a survey has been conducted among 51 accounting managers of different companies. Furthermore, SPSS software and Excel are used as the instruments which help in generating graphs and statistics from the collected numerical data and findings. Using these instruments and primary sources was appropriate for conducting a quantitative study with genuine data discussing the correlation between conventional accounting and modern accounting methods.

Keywords : Conventional Accounting, Financial Management, Modern Accounting Methods, Modern Technologies, Transaction Management.