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Fundamentals of Accounting
Fundamentals of Accounting
History of Accounting
Adan = Love + Eva
A= L + E
Note: The moment that there is a business automatic
there is an accounting.
Accounting was developed during 14th – 17th century or
renaissance period which this period leads to industrial
revolution.
Italy in Europe- where accounting started.
Fra Luca Pacioli – Father of accounting or Father of Double
Entry Book Keeping
Single Entry Accounting vs. Double Entry Book Keeping
Jurasic Era Accounting By: Fra Luca Pacioli
At least two (2) affected
Ex. Peter bought a ball, in the transaction
he got a ball but did not
Whenever there is an In,
record the money he
there is always or equal
loses.
to Out
In = Out
Out = In
Debere = Credere
Credere= Debere
Debit = Credit
Credit = Debit
Left = Right
A=L+E