History of Accounting Essay -- Accounting Employment Bookkeeping Essay

History of accountThe history of accounting I feel is important in the discovering, understanding, and developing of my foundation for my accounting career. In this report you will take on about the development of accounting. You will uplift about the people who influenced accounting the most throughout the years. You will learn how accounting came about and how it was mappingd in the ancient times. You will learn about the invention of the double-entry clerking processes. You will learn how things were done forward the birth of the double-entry bookkeeping process. You will learn about Luca Pacioli and the Summa. You will in addition learn about modern accounting and ACAUS.In attempting to explain wherefore double entry bookkeeping developed in fourteenth blow Italy instead of ancient Greece or Rome, accounting scholar A.C. Littleton describes seven severalise ingredients which led to its creation. Those key ingredients consisting of private property, capital, comm erce, credit, writing, money and arithmetic. Most of these did not embody in ancient times. This alone would not lead someone to grow a complete and involved accounting system. Writing, for example, is as old as civilization itself, but arithmetic - the systematic manipulation of number symbols - was rightfully not a tool possessed by the ancients. Fairly, the persistent use of roman numerals for financial motions long after the introduction of Arabic numeration appears to have delayed the earlier creation of double-entry systems. However, the problems encountered by the ancients with enrol keeping, control and verification of financial transactions was not entirely unlike than our own today. Governments had strong incentives to keep careful records of receipts and disbursements -for the most breach as concerns taxes. In any society where individuals accumulated wealth, there was a desire by the rich to perform audits on the honesty and expertness of slaves and employees entrusted with asset management. But the lack of the above-listed antecedent to double entry bookkeeping made the job of an ancient accountant extraordinarily difficult. In societies where well-nigh all were illiterate, writing materials costly, numeration difficult and money systems inconsistent, a transaction had to be extremely important to justify keeping an accounting record.Accounting in ancient Mesopotamia, Circa 350... ...also shifted the focus to revenues and expenses . At the turn of the century, there were at least four types of coin tilts in use - those that fondnessmarized changes in cash, in current assets, in working capital and overall financial activities. controller H.A. Finney led the movement for use of a funds statement, which foc apply on liquidity by tracking the sources of changes in working capital. He used a worksheet approach to highlight meaningful balance sheet changes by aggregating most of the fluctuations, which affect working capital and offer ed a standardized order for calculating them. In the 1940s, the accounting profession increasingly used the funds statement to measure the actual flow of monies, rather than simply the sum of working capital changes between balance sheet dates. The funds statement increasingly became a staple for the financial statement, and in 1971 the AICPA began requiring its inclusion in stockholders annual reports.So in conclusion I hope by reading this you know have a better understanding accounting. to a fault I want you to have and understanding of how it was originated and the major contributors of the systems we use today in accounting.