Accounting Practices Through History

The Res Gestae Divi Augusti documents are evidence of early accounting practices in ancient Rome.

Double-entry bookkeeping was exclusively developed by Luca Pacioli.

The Summa de Arithmetica, Geometria, Proportioni et Proportionalita is the first book to exclusively focus on accounting practices.

The modern chartered accountant profession originated in the United Kingdom.

The Philippine Financial Reporting Standards (PFRS) and the Philippine Accounting Standards (PAS) are examples of accounting standards.

Res Gestae Divi Augusti

Double-Entry Bookkeeping

Chartered Accountant

Modern Accounting Standards

Roman Accounting Practices

Roman emperors, like Augustus, maintained detailed financial records, including public revenues, treasury amounts, and money held by public contractors.
These records included details about freedmen and slaves.
Tacitus's account supports the claim that the records were prepared directly by Augustus.

Double-Entry Bookkeeping

Luca Pacioli, a 14th-century Italian, is considered the father of modern accounting.
His double-entry bookkeeping system, crucial for modern accounting, uses debits and credits for each transaction.
Pacioli's Summa de Arithmetica, Geometria, Proportioni et Proportionalita is a significant work on arithmetic, geometry, ratios, and proportions, which also included bookkeeping.
This system is still used today.

Chartered Accountancy

The profession of chartered accountant originated in Scotland.
Queen Victoria granted a royal charter to the Institute of Accountants in Glasgow in the 19th century.
Accounting standards, like the PFRS (Philippine Financial Reporting Standard) and PAS (Philippine Accounting Standard), guide accountants.

Explore the evolution of accounting practices from Roman times to the modern age. This quiz covers significant figures like Augustus and Luca Pacioli, as well as the foundations of double-entry bookkeeping. Test your knowledge on the origins and impact of chartered accountancy.