Management and Organizational Studies 1023A/B Lecture : Introduction- Accounting.docx

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1023A/B
• Professor: James O' Brien

Document Summary

Since prehistoric times families had to account for food and clothing to face the cold seasons. Evidence of accounting records can be found in the babylonian empire, in pharaohs" egypt and in the code of hammurabi. The advent of taxation, record keeping became a necessity for governments. The role of accountants in the ancient world is coming into clearer focus with new archaeological discoveries and interpretations of the artifacts. It is now evident that writing developed over 5,000 years ago by accountants. (7) double entry system. The italian renaissance brought the artistic accomplishments of man to new heights. Fragments dated 1211 of the account book of a florentine banker present the earliest known evidence of the double entry system. Venice was the business cradle of europe, and it was here among merchants that double entry accounting was practiced. (8) the father of accounting. In 1494 an italian monk published a book explaining double entry bookkeeping.