INTRODUCTION TO
ACCOUNTING
Chapter 1
Lian
ne
, CHAPTER OUTLINE
Accounting Variations
01 History of Accounting
02 Among Countries
Harmonization of Accounting
03 Standards
Lian
ne
,HISTORY OF ACCOUNTING
Accounting, as a language of business, is as old as civilization. It has evolved
in response to economic and social needs of men. It started with a simple
recording of repetitive exchanges.
As the business accumulated wealth and resources, record-keeping
and documents were used as [roofs of transactions and events. These
records of transactions and events were used not only as evidences but also
as tools to track the repetitious and voluminous business transactions, to
conduct inventory and evaluate the progress of business.
played a vital role when money, banking and credit were invented.
These were important components on the rise of great civilization of the
ancient world.
Lian
ne
, THE CRADLE OF CIVILIZATION
Around 3600 BC, record-keeping was already common form Mesopotamia, China
and India to Central and South America. The oldest eveidence of this practice
was the “clay tablet” of Mesopotamia, 90% of which dealth with commercial
transactions, accounts payable and receivables. Tithes to ruling theocratic class
were faithfully recorded in many occasions as to both quantity and value
Simple accounting is mentioned in the new testament.
EXAMPLE:
“After a long time. The lord of those servants came to settle accounts with
them”.
Lian
ne
ACCOUNTING
Chapter 1
Lian
ne
, CHAPTER OUTLINE
Accounting Variations
01 History of Accounting
02 Among Countries
Harmonization of Accounting
03 Standards
Lian
ne
,HISTORY OF ACCOUNTING
Accounting, as a language of business, is as old as civilization. It has evolved
in response to economic and social needs of men. It started with a simple
recording of repetitive exchanges.
As the business accumulated wealth and resources, record-keeping
and documents were used as [roofs of transactions and events. These
records of transactions and events were used not only as evidences but also
as tools to track the repetitious and voluminous business transactions, to
conduct inventory and evaluate the progress of business.
played a vital role when money, banking and credit were invented.
These were important components on the rise of great civilization of the
ancient world.
Lian
ne
, THE CRADLE OF CIVILIZATION
Around 3600 BC, record-keeping was already common form Mesopotamia, China
and India to Central and South America. The oldest eveidence of this practice
was the “clay tablet” of Mesopotamia, 90% of which dealth with commercial
transactions, accounts payable and receivables. Tithes to ruling theocratic class
were faithfully recorded in many occasions as to both quantity and value
Simple accounting is mentioned in the new testament.
EXAMPLE:
“After a long time. The lord of those servants came to settle accounts with
them”.
Lian
ne
