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The History of Accounting. ... As time wears on the history of accounting will
still be maturing and more advanced than ever before. ...
The History of Accounting. The history of accounting is as old as civilization and
is among the most important professions in economic and cultural development. ...
HISTORY OF ACCOUNTING. ... The idea that society has enough accounting rules in
an area remains a unique event in the history of accounting. ...
... approaches including biography, prosopography, institutional history, public sector
accounting history, business history through accounting records and ...
... I will discuss the evolution and history of accounting, the Conceptual frame work
of accounting, and the governing bodies which shape the standards and ...
Submitted by rekaboo on March 16, 2008
Category: Business
Words: 952 | Pages: 4
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The History of Accounting
Business 100
Sherika R. Smith
For thousands of years, people have been coming up with ways to advance the accounting concept. Many have tried to develop their own way of measuring accounting. Though it has come along way, I will discuss some of the events that paved the way for accounting history from the past to the present day. First, I will discuss how the first accounting records came about and how writing helped to advance them. Second, I will see how Pacioli developed double entry bookkeeping. Third, I will discuss the rise of goldsmith bankers in England and the founding of the Bank of England. Fourth, we’ll look at the first federal income tax. Lastly, we’ll end by discussing how the Great Depression played a role in accounting and the regulation of financial accounting.
7500BC
The domestication of livestock and grains started at different sites about the same time. Simple tokens were associated with agricultural sites, clay balls of various shapes representing specific goods (e.g. two round tokens could be a pair of cattle, twelve oval tokens a dozen units of wheat. This was the first representation of inventory and the beginning of the concept of numbers (Besserat,1992).
3200BC
Over the next 5,000 years, accounting records advanced from simple to complex tokens representing inventory, to clay tablets, to the development of abstract symbols, and cuneiform writing in Sumeria. This paralled advances in agriculture, pottery, and textiles, building, war and nation-states (Gary, 1999).
1494
Luca Pacioli stated that three things were needed for merchants to be successful: sufficient cash or credit, an accounting system that can tell him how he’s doing, and a good bookkeeper to operate it. His accounting system consisted of journals and ledgers. It rested on the...
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