The document outlines the history of accounting from ancient civilizations to modern times. It discusses how early civilizations like the Egyptians and Babylonians kept records of animals, crops and livestock using clay tablets. It then mentions key developments like the birth of the monetary economy during the early Renaissance, the Dutch East India Company becoming the first to issue bonds and stocks, and how the Industrial Revolution and advent of computers transformed accounting practices.
The document outlines the history of accounting from ancient civilizations to modern times. It discusses how early civilizations like the Egyptians and Babylonians kept records of animals, crops and livestock using clay tablets. It then mentions key developments like the birth of the monetary economy during the early Renaissance, the Dutch East India Company becoming the first to issue bonds and stocks, and how the Industrial Revolution and advent of computers transformed accounting practices.
The document outlines the history of accounting from ancient civilizations to modern times. It discusses how early civilizations like the Egyptians and Babylonians kept records of animals, crops and livestock using clay tablets. It then mentions key developments like the birth of the monetary economy during the early Renaissance, the Dutch East India Company becoming the first to issue bonds and stocks, and how the Industrial Revolution and advent of computers transformed accounting practices.
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 COMPANY
-became the first company
INDUSTRIAL REVOLUTION In history to issue bonds
-started in late 1700s in Britain. And share of stocks