History of Accounting
Magnitogorsk Technical State University
Foreign Languages Department № 2
Report:
«The History of Accounting»
Done: Izhevsky V.
Checked: Gamper E.E.
Magnitogorsk
2011
Contents
- Introduction
-- 1. What Is Accounting
-- 2. History
--- 2.1. Ancient Accounting
--- 2.2. Accounting In Mesopotamia
--- 2.3. Accounting In Ancient Egypt, China, Greece and Rome
--- 2.4. Medieval Accounting
--- 2.5. Italian Renaissance: Birth of Double Entry Bookkeeping
---- 2.5.1. Luca Pacioli Biography
---- 2.5.2. Significance of the Summa
--- 2.6. Professional Accountancy Travels Across the Globe
--- 2.7. The Twentieth Century
-- 3. How Technology has Impacted Accounting
- Reference List
Introduction
The history of accounting is as old as civilization, key to important phases of history, among the most important professions in economics and business, and fascinating. Accountants participated in the development of cities, trade, and the concepts of wealth and numbers. Accountants invented writing, participated in the development of money and banking, invented double entry bookkeeping that fueled the Italian Renaissance, saved many Industrial Revolution inventors and entrepreneurs from bankruptcy, helped develop the confidence in capital markets necessary for western capitalism, and are central to the information revolution that is transforming the global economy.
There are no household names among the accounting innovators; in fact, virtually no names survive before the Italian Renaissance. It took archaeologists to dig up the early history and scholars from many fields to demonstrate the importance of accounting to so many aspects of economics and culture. The role of accountants in the ancient world is coming into clearer focus with new archaeological discoveries and innovative interpretations of the artifacts. It is now evident that writing developed over 5,000 years--by accountants. It is difficult to overestimate the importance of double entry
Foreign Languages Department № 2
Report:
«The History of Accounting»
Done: Izhevsky V.
Checked: Gamper E.E.
Magnitogorsk
2011
Contents
- Introduction
-- 1. What Is Accounting
-- 2. History
--- 2.1. Ancient Accounting
--- 2.2. Accounting In Mesopotamia
--- 2.3. Accounting In Ancient Egypt, China, Greece and Rome
--- 2.4. Medieval Accounting
--- 2.5. Italian Renaissance: Birth of Double Entry Bookkeeping
---- 2.5.1. Luca Pacioli Biography
---- 2.5.2. Significance of the Summa
--- 2.6. Professional Accountancy Travels Across the Globe
--- 2.7. The Twentieth Century
-- 3. How Technology has Impacted Accounting
- Reference List
Introduction
The history of accounting is as old as civilization, key to important phases of history, among the most important professions in economics and business, and fascinating. Accountants participated in the development of cities, trade, and the concepts of wealth and numbers. Accountants invented writing, participated in the development of money and banking, invented double entry bookkeeping that fueled the Italian Renaissance, saved many Industrial Revolution inventors and entrepreneurs from bankruptcy, helped develop the confidence in capital markets necessary for western capitalism, and are central to the information revolution that is transforming the global economy.
There are no household names among the accounting innovators; in fact, virtually no names survive before the Italian Renaissance. It took archaeologists to dig up the early history and scholars from many fields to demonstrate the importance of accounting to so many aspects of economics and culture. The role of accountants in the ancient world is coming into clearer focus with new archaeological discoveries and innovative interpretations of the artifacts. It is now evident that writing developed over 5,000 years--by accountants. It is difficult to overestimate the importance of double entry