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.