workshop 1 - > 1.3 What major contributions to accounting...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
> 1.3 What major contributions to accounting and its terminology have been made historically by the following countries; Italy, the United Kingdom, the United States, Japan? Italy (14 th to 15 th century); - The Italians were the first to implement the double entry bookkeeping method that spread across European nations and eventually around the world. - Developed the language of accounting and financial terminology including; bank, capital, cash, debit, credit, and journal. United Kingdom (19 th century); - Scotland and England were the first to introduce the modern accounting profession, which spread the use of double entry accounting as well as the concept of true and fair view. United States (20 th century); - The US was the earliest to implement accounting standards and consolidations including Activity Based Costing (ABC), which shaped many of the concepts and practices associated with accounting. -
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 2

workshop 1 - > 1.3 What major contributions to accounting...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online