HISTORY OF ACCOUNTING Accounting has a history that is usually discussed in terms of one seminal event- the invention and dissemination of the double entry bookkeeping processes. Paul Garner and Atsuo Tsuji (1995) report that the first printed treatise of bookkeeping in the world is the Summa de Arithemetica‚ Geometria‚ Proportioni et Proportionalita written by Luca Pacioli. The treatise was published in Venice in 1494‚ and was reprinted at Toscolano in 1523. This work is one of the most important
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nineteenth century with Alexander Shand [1844–1930].2 The Japanese translation of Shand’s (1873) Bank bookkeeping proved to be so important that his system of bank accounting became legally obligatory for the newly established banking system of the Meiji era. In the same year‚ Fukuzawa (1873–74) published a Japanese translation of Bryant and Stratton’s (1871) textbook‚ Common school bookkeeping. Yukichi Fukuzawa [1835–1901]‚ a prominent Japanese scholar and the founder of Keio Gijuku University‚
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Student Number : 31829139 Name : Soomaya Gaffoor Module code : SDACTOM Assignment 02 Unique Assignment Number : 306231 Table of Contents Question 1 Question 2 Question 3 Bibliography Page 1 2 3 3 Student Number: 31829139‚ Course: SDACTOM‚ Assignment 02 Question 1 Explain the criteria and elements for formulating criterion-directed behavioural outcomes (Mager) as explained in the study guide. Behavioural (criterion-directed) outcomes are specific. They indicate what learners must be able to do
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Accounting evolved‚ improving over the years and advancing as business advanced. Double-entry bookkeeping first emerged in Italy in the 14th century. Later with the development of joint stock companies wider audiences were created for accounting information‚ as investors relied on accounts to provide information on the profitability of their investments. This development resulted in a split of accounting systems for internal – management accounting and external – financial accounting purposes. Some
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2013 Learning different types of bookkeeping can be very beneficial to any business and will allow that business to choose the one best for their specific needs. Single Entry is a simple approach for small business with minimal transactions. This type of bookkeeping only maintains a record of cash disbursement‚ sales‚ purchases‚ and cash receipts. This shows a daily summary as well as monthly summary‚ and only effect one account. Double Entry bookkeeping is the standard and is used by most business
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Accounting is defined by the American Institute of Certified Public Accountants (AICPA) as "the art of recording‚ classifying‚ and summarizing in a significant manner and in terms of money‚ transactions and events which are‚ in part at least‚ of financial character‚ and interpreting the results thereof." Accounting is thousands of years old; the earliest accounting records‚ which date back more than 7‚000 years‚ were found in Mesopotamia (Assyrians). The people of that time relied on primitive accounting
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In this simplified form we can begin to see what the mathematician and Father of Accounting (Luca Pacioli) saw in 1494 when he codified the double-entry bookkeeping system. It is his codified system that outlined the rules for applying debits and credits when recording the financial transactions of a business in the double-entry bookkeeping system. Now remember that Luca’s book in 1494 was written and published in Latin and at a time when the concept of negative numbers was not yet accepted in Europe
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Atlantic Cape Community College. (2008‚ April 22). Description: Recording Bad Debt Expense htm. Accessed on January 27‚ 2015. Bursa Malaysia Securities Berhad. (2015‚ January 27). Main Market Listing Requirement Chapter 15 :Corporate Governance com/misc/system/assets/5957/MAIN_Chap%2015_LRPh1%20(27Jan2015). pdf. Accessed on January 30‚ 2015. January 27‚ 2015. Rezaee‚ Z. (2009). Corporate Governance and Ethics . United States : Joh Wiley & Sons Inc. Securities Commision Malaysia. (2012‚ March). Malaysian
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balls. Water and electricity. Medical equipment such as first aid kits. Travelling expenses when the team plays somewhere. Maintenance of the building ( paint‚ varnish etc ). What recording systems does the club use to record incomes and expenses? Usually a simple system of bookkeeping is followed. First we; Distinguish clearly between receipts and income. Receipt are all monies that are received which include all cash transactions‚ irrespective of the related period or the nature
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Double Entry Book keeping arises before Luca Pacioli period as explained by A. C. Littleton? Attempting to explain why double entry bookkeeping developed in 14th century Italy instead of ancient Greece or Rome‚ accounting scholar A. C. Littleton describes seven "key ingredients" which led to its creation. Private Property: The power to change ownership‚ because bookkeeping is concerned with recording the facts about property and property rights. Capital: Wealth productively employed‚ because otherwise
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