A Brief History of Accounting

Individual Egyptian

"Controller of the scribes"

Development of Corporations

Created larger groups of investors, and more complex structures of ownership, all requiring accounting system to adapt.

Godin Tepe and Tepe Yahya

Cylindrical tokens that were used for bookkeeping on clay scripts.

Auditor

Oral "audit reports" resulting to the term

Scotland, 19th Century.

Origin of modern profession of the chartered accountant.

Insitute of accountants in Glasgow

Petioned Queen Victoria for a royal charter, so accountants could distinguish themselves from solicitors. Offers accounting in addition to a firm's legal services.

4th Millennium- 3rd Millenium B.C.

Priest and ruling leaders in Ancient Iran had people oversee financial matters.

1760 (Onset of the industrial revolution)

Profileration of companies and the need for more advanced accounting systems.

Rosetta Stone

Includes a description of tax revolt.

Arthashastra

India Chanakya Book Few Detailed aspect of maintaining books of accounts for a soveriegn state.

Phonecians

Invented the phonecial alphabet for bookkeeping purpose.

Summa de Arithmetica, Geometria, Proportioni et Proportionalita

Luca Pacioli

Writing, Counting and Money

Related to early development of accounting

Scotland

Modern profession roots Mids-1800's

Ancient Egyptians and Babylonians early audting system.

Related to earyl development of accounting

Invention of a form of bookkeeping using clay tokens

Represented a huge cognitive leap for man kind.

Rise of the importance of taxation

Rise of the need to record payments

2nd Century

Rising of the importance of taxation

Tepe Yahye

Script also contained graphical representation.

Godin Tepe

Script only contained tables with figures

Development of accounting along with that of money and may be related to.

Taxation and trading activities of temples

19th Century (1880)

Transition of accounting into an organized profession. With local professional bodies in England merging to form the Institute of Chartered Accountants in Engand and Wales.

Iran

Where tokens and bookkeeping scripts were discovered

India Chanakaya

Wrote a manuscript similar to a financial management book, during the period of Maurian Empire.

Egyptians

Assigned someone the role of controller

Luca Pacioli

First to describe the system of debit and credits in journal and ledger that is still the basis of today's accounting

Forensic Accounting

Have similiraties with early modern accounting.

4th Century B.C.

Ancient Egpytians and Babylonians had auditing systems for checking movement in and out of the storehouse

Early accounting records was found in the ruins of ancient.

Babylon, Assyria and Sumeria

Solicitors

Belonged to the same association with accountants. Offers accounting services to their clients.

Accounting Records

Dated more than 7,000 years have been found in Mesopotamia.

1494

Described the system of double-entry accounting by Luca Pacioli

The transition from concrete to abstract counting was related to

Early development of accounting and money and took place in Mesopotamia

Ancient Mesopotamia

Early development of accounting dates back to

First Accountants

Employed around 300 B.C. In Iran.

Old Accounting

Evidence of early form of accounting is evident.

Expansion of commerce and business (1st millenium B.C.)

Expanded the role of the accountant.

Luca Pacioli (Italian)

Father of Accounting and Bookkeeping First to publish a work of double-entry bookkeeping. Introduced it to Italy.

1854

The institute adopted "chartered accountant" for its members, a term and demarcation that still carries legal weight globally today.

Emperor Augustus

The roman government had access to detailed financial information.