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History of Accounting Timeline and Importance

The document is a history timeline assignment from a fundamentals of accounting lesson. It includes a timeline tracing the history of accounting from ancient civilizations to the modern era. Key events highlighted include the early record keeping of ancient Egyptians and Babylonians, the use of clay tablets in the ancient Near East, the birth of the monetary economy in the early Renaissance, the Dutch East India Company becoming the first to issue bonds and stocks, and the start of the industrial revolution in late 1700s Britain. The assignment explains that studying accounting history is important as it promotes understanding accounting as both a social and technical practice, and identifies the impact of accounting and accounting changes over time.

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103 views2 pages

History of Accounting Timeline and Importance

The document is a history timeline assignment from a fundamentals of accounting lesson. It includes a timeline tracing the history of accounting from ancient civilizations to the modern era. Key events highlighted include the early record keeping of ancient Egyptians and Babylonians, the use of clay tablets in the ancient Near East, the birth of the monetary economy in the early Renaissance, the Dutch East India Company becoming the first to issue bonds and stocks, and the start of the industrial revolution in late 1700s Britain. The assignment explains that studying accounting history is important as it promotes understanding accounting as both a social and technical practice, and identifies the impact of accounting and accounting changes over time.

Uploaded by

zavria
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Legacy of Wisdom Academy of Dasmariñas, Inc.

Golden City, Salawag, Dasmariñas City


SY 2020 – 2021

Fundamentals of Accounting
LESSON 3- History of Accounting
ACTIVITY NO. 3

Name: Delos Reyes Gianna Date__________________

1. Draw a timeline of history of accounting and why it is important to study its history? (20 pts)

TIMELINE: HISTORY OF ACCOUNTING

ACCOUNTING - is the process of recording financial transactions pertaining to a business. The accounting
process includes summarizing, analyzing and reporting these transactions to oversight agencies,
regulators and tax collection entities.

THE EARLY ACCOUNTING RECORDS

-the early record-keeping of the

ancient Egyptians and Babylonians.

-records of animals, livestock, and crops. And

THE ANCIENT NEAR EAST

-clay tablets were used as a

THE EARLY RENAISSANCE writing medium

-the birth of monetary economy

THE DUTCH EAST INDIA COMPAN


-became the first company

INDUSTRIAL REVOLUTION In history to issue bonds

-started in late 1700s in Britain. And share of stocks


It is important to study because the Accounting History promotes the study of accounting as a social
practice as well as a technical practice and encourages the identification of the impact of accounting and
accounting change on organizational and social working and development.

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