history of accounting

history of accounting - Accounting did not emerge like...

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Accounting did not emerge like unclothed Venus from seas complete and perfect in every detail. Instead, it developed slowly over the centuries in order to satisfy the needs of those concerned with the conduct of business. If we are to understand the present stage in the development of accounting it is necessary for us to know something about the history of accounting. Unfortunately, it appears that many accountants have only the vaguest knowledge of how accounting practice developed over the centuries; they are thus unable to recognize that the justification of many current accounting practices is based on the needs of the past and may not be relevant to the circumstances of the present. Ancient Accounting Records Some of the earliest written records known to us today are accounting records. They come from the Middle Eastern civilizations of Mesopotamia, Egypt, Crete, and Mycenae. The earliest records were in physical quantities rather than money but once money was ‘invented’ it
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This note was uploaded on 03/11/2012 for the course LAWYERING 101 taught by Professor Fredfreud during the Spring '12 term at NY Law.

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history of accounting - Accounting did not emerge like...

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