History of Accounting

ACCOUNTING 1 October 23, 2021
History of
Accounting
BY: Angelica
Theareinne
A.
Quinsay
11ABM St.
Clare
Accounting
Accounting is more than just the
act of keeping a list of debits and
credits. It is the language of
business and, by extension, of all
things financial.
Accounting
Timeline
2,500 BCE 500 BCE 1200 1900 1995
1,000 BCE 423 BCE 1494 1940

Accounting Ancient Civilizations
Timeline Accounting
2,500 BCE 500 BCE 1200 1900 1995
1,000 BCE 423 BCE 1494 1940

ACOUNTING 1 October 23, 2021
Ancient Civilizations
Accounting
Based on an article I've read, "The early
development of accounting dates back
to ancient Mesopotamia, and is closely
related to developments in writing,
counting and money and early auditing
systems by the ancient Egyptians and
Ancient
Babylonians. By the time of Emperor Egypt
record
Augustus, the Roman government had keeping
access to detailed financial information.
Accounting Phonetic
Timeline Alphabet
2,500 BCE 500 BCE 1200 1900 1995
1,000 BCE 423 BCE 1494 1940

Phonetic Alphabet
The Phoenicians
invented a phonetic
alphabet "probably for
bookkeeping purposes",
based on the Egyptian
hieratic script.
Phoneti
Alphabe c
t
Accounting Abacus was
Timeline Created
2,500 BCE 500 BCE 1200 1900 1995
1,000 BCE 423 BCE 1494 1940

MDM Company June 1, 2021
Abacus was Created
Egyptians carried on with

accounting records and even
invented the first bead and wire
abacus.
Accounting The Auditing Profession
Timeline was Created
2,500 BCE 500 BCE 1200 1900 1995
1,000 BCE 423 BCE 1494 1940

Auditing Profession
"The auditing origin can be traced back

to the 18th century when the practice of
large-scale production developed as a
result of the Industrial Revolution.
Systems of checks and counter checks
were implemented to maintain public
accounts as early as the days of ancient
Egyptians, Greeks and Romans."
The First Requirement for
Accounting Businesses to Keep
Timeline
Accounting Records

2,500 BCE 500 BCE 1200 1900 1995
1,000 BCE 423 BCE 1494 1940

The First Requirement for

Businesses to Keep Accounting
Records
In the 13th century, the first need for

firms to keep accounting records expanded
across numerous Italian republics. They
wanted to keep track of day-to-day
transactions and credit accounts with other
businesses, so they took these documents.
Luca Pacioli Created
Accounting Accounting Terms,
Timeline
Debit, and Credit

2,500 BCE 500 BCE 1200 1900 1995
1,000 BCE 423 BCE 1494 1940

Luca Pacioli Created

Accounting Terms,
Debit, and Credit

Debits and credits accounts were

formally invented in the 15th century by
Luca Pacioli, as an official system to
specify what was already used by
merchants in Venice. These formal
roots trace as far back as the Roman
empire. There is a side for a creditor
and a side for a debtor existed.
Accounting Double Entry and
Timeline
Certified Public
Accountant is Created

2,500 BCE 500 BCE 1200 1900 1995
1,000 BCE 423 BCE 1494 1940

Double Entry and

Certified Public
Accountant is Created

During the Industrial Revolution,

double-entry accounting methods
were developed, as well as the title
of Certified Public Accountant.
Accounting GAAP Accounting
Timeline
Standards were Created

2,500 BCE 500 BCE 1200 1900 1995
1,000 BCE 423 BCE 1494 1940

GAAP Accounting
Standards was Created
The GASB was established in

1984 as a policy board
charged with creating GAAP
for state and local
government organizations.
Many groups rely on
government financial
statements, including
constituents and lawmakers.
Accounting Automated
Timeline
Accounting was Created

2,500 BCE 500 BCE 1200 1900 1995
1,000 BCE 423 BCE 1494 1940

Automated Accounting
was Created
Modern accounting is now being done

through automated accounting systems
or software like Peachtree, and
Quickbooks.
Sources:
https://www.timetoast.com/timelines/the-history-of-accounting
https://erasrek.co.za/blog/history-of-accounting/
https://www.investopedia.com/articles/financialcareers/09/ancient-accounting.asp
https://strategiccfo.com/history-of-accounting/#:~:text=1493,leadership%20to%20the%20next%20level%3F
https://www.withum.com/resources/luca-pacioli-father-of-accounting/
https://babington.co.uk/blog/accounting/brief-history-of-accounting/
Than k
u!

yo

History of Accounting

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History of Accounting

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ACCOUNTING 1 October 23, 2021

2,500 BCE 500 BCE 1200 1900 1995

1,000 BCE 423 BCE 1494 1940

2,500 BCE 500 BCE 1200 1900 1995

1,000 BCE 423 BCE 1494 1940

2,500 BCE 500 BCE 1200 1900 1995

1,000 BCE 423 BCE 1494 1940

2,500 BCE 500 BCE 1200 1900 1995

1,000 BCE 423 BCE 1494 1940

Abacus was Created

Egyptians carried on with

2,500 BCE 500 BCE 1200 1900 1995

1,000 BCE 423 BCE 1494 1940

"The auditing origin can be traced back

2,500 BCE 500 BCE 1200 1900 1995

1,000 BCE 423 BCE 1494 1940

The First Requirement for

In the 13th century, the first need for

2,500 BCE 500 BCE 1200 1900 1995

1,000 BCE 423 BCE 1494 1940

Luca Pacioli Created

Debits and credits accounts were

2,500 BCE 500 BCE 1200 1900 1995

1,000 BCE 423 BCE 1494 1940

Double Entry and

During the Industrial Revolution,

2,500 BCE 500 BCE 1200 1900 1995

1,000 BCE 423 BCE 1494 1940

The GASB was established in

2,500 BCE 500 BCE 1200 1900 1995

1,000 BCE 423 BCE 1494 1940

Modern accounting is now being done

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