Accounting has been called as the language of business. Accounting is the system which measure business activities. It processes activity in business into reports and communication the results to top management. let us now look through the advancement of accounting. Ancient accounting as early as 8500B.C., accounting has alredy existed. Archaeological have found clay tokens as old as 8500 B.c. found in Mesopotamia which were usually cones,disks, spheres and pellets. These tokens correspond to such commodities like sheep, clothing or bread. They were used in the middle west in keeping records. After some time, the tokens were replaced by wet clay tablets. During such time, experts concluded this to be the starts of the art of writing. Example of ancient civilization keeping account records are China, Babylonia, Greece and Egypt. Like in Babylonia during 3600 B.C., payment of salaries were costs used in building structure using accounting. A good example is the case of the Egyptians pharaohs in building their magnificent pyramids.
Middle Ages
During the thirteenth to the fifteenth centuries, trade flourished places such as Florence, Venice and Genoa, thus, there was advancement in accounting keeping methods, thanks to the merchants and the bankers of such time. During the 1211 A.D., one of the systems in accounting was kept by a Florentine records first came out during 1340A.D. in Genoa. In 1494, the first systematic record keeping was formulated by Fra Luca Pacioli, a francisxan monk and one of the most celebrated mathematician to this day. Pacioli is considered as the father of accounting.
Industrial revolution
The industrial revolution which was characterized by great changes in working and business transaction paved way to the specialized field of accounting called cost accounting in order to meet the need for the analysis of various cost. In addition,since there was a development of the corporate form of organization, there was a need for a separate and independent report to assure the management's financial representat
Information age
At present, there have been tremendous in accounting to meet the needs brought about by information technology. Those duties that required manual, tedious and time consuming methods can now be done using the computers which make work faster, more reliable, accurate and precise. True making in faster and hassie free.business men transact their business without even facing one another has become possible all because of information technology. With the advancement of businesses, accounting has also advanced to meet the needs of businesses at this day.there has been a great quantity of application and elements of accounting that meet up the various needs of businesses. As they often point out, as a smart businessman, one must breathe in information technology to keep up with the trend and stay competitive.
Middle Ages
During the thirteenth to the fifteenth centuries, trade flourished places such as Florence, Venice and Genoa, thus, there was advancement in accounting keeping methods, thanks to the merchants and the bankers of such time. During the 1211 A.D., one of the systems in accounting was kept by a Florentine records first came out during 1340A.D. in Genoa. In 1494, the first systematic record keeping was formulated by Fra Luca Pacioli, a francisxan monk and one of the most celebrated mathematician to this day. Pacioli is considered as the father of accounting.
Industrial revolution
The industrial revolution which was characterized by great changes in working and business transaction paved way to the specialized field of accounting called cost accounting in order to meet the need for the analysis of various cost. In addition,since there was a development of the corporate form of organization, there was a need for a separate and independent report to assure the management's financial representat
Information age
At present, there have been tremendous in accounting to meet the needs brought about by information technology. Those duties that required manual, tedious and time consuming methods can now be done using the computers which make work faster, more reliable, accurate and precise. True making in faster and hassie free.business men transact their business without even facing one another has become possible all because of information technology. With the advancement of businesses, accounting has also advanced to meet the needs of businesses at this day.there has been a great quantity of application and elements of accounting that meet up the various needs of businesses. As they often point out, as a smart businessman, one must breathe in information technology to keep up with the trend and stay competitive.
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