HISTORY OF ACCOUNTING

• 3600 B.C

Record-keeping was already common in

Mesopotamia, China, India to dental and South America

3600 BC (which dealt with commercial transactions at the time, such as listing of accounts receivable and accounts payable)

Clay tablet of  Mesopotamia

14th century

double-entry Bookkeeping

double-entry Bookkeeping

14th century

father of accounting

Luca Bartolomeo de Pacioli

sya sa double-entry bookkeeping

luca pacioli

friend of leonardo da vinci

luca pacioli

what book did luca pacioli write that contined a detailed chapter of double bookkeeping

summa de arithmetica

The Italians of the 14th to 16th centuries were called

(the father of modern accounting)

• The study of accounting and the development of accounting theory began during this period

• Social upheavals affecting government, finances, laws, customs, and business had greatly influenced the development of accounting

• French Revolution (1700s)

Mass production and the great importance of fixed assets were given attention during this period

• Industrial Revolution (1760-1830)

- the beginnings of modern accounting in Europe and America

19th century

• When ?? granted a royal charter to the Institute of Accountants in Glasgow, creating the profession of the chartered accountant)

• Queen Victoria

what did queen victoria grant?

a royal charter

The first US accounting society was set in . The ? was the forerunner to the current ?

1887, American Association of Public Accountants, American Institute of Certified Public Accountants (AICPA)

- when one company takes over all the operations of another business entity, resulting in the dissolution of the other business

Merger