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NEEDS AND HISTORY OF

ACCOUNTING
BEFORE WE START THE BOOKISH CONTENTS,FIRST
LET’S LEARN WHY WE NEED ACCOUNTING AND ITS
HISTORY

LEARNING OBJECTIVES

(THIS WILL HELP CHILDREN TO UNDER STAND)

WHY DO WE NEED ACCOUNTING?

HISTORY OF ACCOUNTING

WHY DO WE NEED ACCOUNTING?

 It is the second most important branch of a company.

 To track the expenses of the company.
 It helps in knowing the performance of the company.

2ND MOST
IMPORTANTBRANCH

NEEDS

KNOWING THE
PERFORMANCE OF TRACK THE
THE COMPANT EXPENSES

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IT firms, TATA,
RELIANCE, HONDA,
M&M…

Do you know what is

common in them! ...

ACCOUNTING
FUTURE SCOPE/CARRER OPTIONS:-
 CHARTERED ACCOUNTANT (CA)
 FINANCE MANAGER
 DIRECTORS
 CHARERED MANAGEMENT ACCOUNTANT
 COMPANY SECRETARY
 HISTORY OF ACCOUNTING

Accounting’s history can be traced back thousands of years to the

cradle of civilization in Mesopotamia and is said to have developed
alongside writing, counting and money. The early Egyptians and
Babylonians created auditing systems, while the Romans collated
detailed financial information.
In India, Chitragupta also known as the God of Accounting is a
Hindu deity who serves as the registrar of the dead. He is assigned
with the task of maintaining the records of the actions
of human beings in a register.
Later on in India, Chanakya wrote a manuscript
similar to a financial management book, during the
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period of the Mauryan Empire. His book Arthashastra contains few

detailed aspects of maintaining books of accounts for a sovereign
state.

But the Father of modern accounting is Italian

Luca Pacioli, who in 1494 first described the
system of double-entry book-keeping used by
Venetian merchants in his Summa de Arithmetica,
Geometria, Proportioniet Proportionalita. While
he was not the inventor of accounting, Pacioli was
the first to describe the system of debits and
credits in journals and ledgers that is still the basis
of today’s accounting systems.

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