The History of Accounting
Accounting the key to important phases of history, among the most important professions in economics and business. Accountants participated in the development of cities, trade, and the concepts of wealth and numbers. Accountants invented writing, participated in the development of money and banking, invented double bookkeeping that fueled the Italian Renaissance, saved many industrial revolution inventors and entrepreneurs from bankruptcy, helped develop the confidence in capital markets necessary for western capitalism, and are central to the information revolution that is trasnforming the global economy.
They're also money launder's for big companies and make the little people disapear. Whthey have significantly made an impact in out early history they're killing us now. For example, ENRON.
ReplyDeleteOn the website, Pacioli said “warned that a person should not go to sleep at night until the debits equaled the credits”. I think that would have been great advice for Bernie Madoff. I thought is was very cool that he taught da Vinci math. I would have thought he would have learned that when he learned out to draw and paint. It is also interesting that a friar would write a treatise on magic tricks.
ReplyDeleteThe first counting was found by traders. They use pellets to count products in tubes to ensured the right amount was paid. This has became the advanced calculators and processors of today. What a story.
ReplyDeleteI guess we tend to think of accountants as the nerdy "bean counter". I have to say I never thought about how the accounting trade actually enabled some of societies greatest achievements. Invented writing?? I need to do more researsh on that one.
ReplyDeleteI loved this post because i am majoring in accounting as well as business admin! Yes the act that began as jotting things down on paper for record keeping is revolutionizing information technology. And it has definitely saved more than quite a few entrepreneurs from bankruptcy!
ReplyDeleteAccounting is the process of recordkeeping, analyzing, and interpreting financial information. They are essentially a compass and a map. It tells you where you are, and how you should proceed to reach your destination. It is definitely a viable means to earn a living. All companies need accountants for the legal reason of keeping records for the government and its agencies. The more important reason is that you want to know. Not keeping track will eventually lead to bankruptcy.
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