AS students should be able to recognise the importance of thinking skills particularly during their period of learning accounting in at Accounting School (AS). Many recent contemporary studies have articulated the necessity for students to develop their judgment skills through their learning. This is becoming even more important with the latest introduction of IFRS principle-based standards. Regardless of the societal demand for such skills, it was found in the present study that students’ recognition towards the importance of thinking skills was very poor. Table 3 displays the ranked lists of factors affecting both success and failure among AS students. Almost all items in the top 10 of ranking were found to be dichotomous. For example, the item “Continuous effort” in the success list had contra relationship with “Lack of effort” in the failure list. Similar relationship was observed in