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Questions and Answers
The first accountant known was "Jerry of ______"
The first accountant known was "Jerry of ______"
Jericho
Dr. Gunter Dreyer recently discovered inscribed bone labels in the tomb of King Scorpion I at Abydos, ______
Dr. Gunter Dreyer recently discovered inscribed bone labels in the tomb of King Scorpion I at Abydos, ______
Egypt
In ancient Egypt, the accountant was called the "______ and ears" of the king
In ancient Egypt, the accountant was called the "______ and ears" of the king
eyes
Token system expanded in Sumeria and Mesopotamia was used as evidence of ______
Token system expanded in Sumeria and Mesopotamia was used as evidence of ______
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Use of lines, notches, and other markings used as abstract representations of ______
Use of lines, notches, and other markings used as abstract representations of ______
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The public economy of the Athenians had a highly developed system of accounting and ______
The public economy of the Athenians had a highly developed system of accounting and ______
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Production increased dramatically after ______
Production increased dramatically after ______
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The beginning of Modern Accounting in Europe and America: The modern, formal accounting profession emerged in ______ in 1854
The beginning of Modern Accounting in Europe and America: The modern, formal accounting profession emerged in ______ in 1854
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Queen Victoria granted a Royal Charter to the Institute of Accountants in ______, creating the profession of the Chartered Accountant
Queen Victoria granted a Royal Charter to the Institute of Accountants in ______, creating the profession of the Chartered Accountant
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At present times, accounting standards are already available to guide accountants in their practice of the ______
At present times, accounting standards are already available to guide accountants in their practice of the ______
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The most notable development in the present is the increased dependence on digitalization and smart technologies, continued globalization of the accounting profession, and the imposition of increased regulations on the ______
The most notable development in the present is the increased dependence on digitalization and smart technologies, continued globalization of the accounting profession, and the imposition of increased regulations on the ______
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China, India, and Greece - Invention of Money Coins appeared to be a simultaneous but independent development at about the same time in ______, ______, and ______.
China, India, and Greece - Invention of Money Coins appeared to be a simultaneous but independent development at about the same time in ______, ______, and ______.
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The Roman government kept detailed financial information of the deeds of Emperor Augustus regarding the stewardship of Roman resources. This is evidenced by Res Gestae Divi Augusti (The Deeds of the Divine ______).
The Roman government kept detailed financial information of the deeds of Emperor Augustus regarding the stewardship of Roman resources. This is evidenced by Res Gestae Divi Augusti (The Deeds of the Divine ______).
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In 23BC, Augustus prepared a rationarium (account) which listed public revenues, the amounts of cash in the aerarium (treasury), in the provincial fisci (tax officials), and in the hands of the publicani (public contractors); and that it included the names of the freedmen and slaves from whom a detailed account could be obtained. 14th Century The year Luca Pacioli, the Father of ______ was born.
In 23BC, Augustus prepared a rationarium (account) which listed public revenues, the amounts of cash in the aerarium (treasury), in the provincial fisci (tax officials), and in the hands of the publicani (public contractors); and that it included the names of the freedmen and slaves from whom a detailed account could be obtained. 14th Century The year Luca Pacioli, the Father of ______ was born.
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One section of Luca Pacioli's book was devoted to methods of recording merchant transactions, including ideas about ______ bookkeeping.
One section of Luca Pacioli's book was devoted to methods of recording merchant transactions, including ideas about ______ bookkeeping.
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The thorough study of accounting and development of accounting theory began during the 17th Century due to social upheavals affecting government, finances, laws, customs, and business that greatly influenced the development of ______.
The thorough study of accounting and development of accounting theory began during the 17th Century due to social upheavals affecting government, finances, laws, customs, and business that greatly influenced the development of ______.
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William Seward Burroughs invented and patented the first workable adding machine in 1885 in St. Louis, Mo. This marked a significant milestone in the history of ______ technology.
William Seward Burroughs invented and patented the first workable adding machine in 1885 in St. Louis, Mo. This marked a significant milestone in the history of ______ technology.
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Study Notes
Early Civilizations
- Accounting dates back to ancient civilizations, with evidence of its existence in Jericho, Egypt, Sumeria, Mesopotamia, Greece, China, and India.
- The first known accountant was "Jerry of Jericho", who kept track of stored goods in the temple or king's granary.
Ancient Egypt (5300 years ago)
- Dr. Gunter Dreyer discovered inscribed bone labels attached to bags of oil and linen in King Scorpion I's tomb at Abydos, Egypt.
- These labels describe inventory owners, amounts, and suppliers, and are considered the world's earliest known writing.
- The accountant was called the "eyes and ears" of the king in ancient Egypt.
- The concept of "zero" had not yet been invented.
Sumeria and Mesopotamia (4000 BC)
- The token system was used to record transactions, with clay "envelopes" or tablets dating back to around 4000 BC.
- Complex tokens evolved around 3700 BC, using lines, notches, and other markings to represent wealth and develop numbers.
- These tokens eventually developed into cuneiform writing.
Ancient Greece
- The public economy of the Athenians had a highly developed system of accounting and auditing.
- Accounts were kept by clerks and controlled by "checking clerks", with accountability assured through public exposure of accounts on stone.
Invention of Money
- Coins were independently developed in China, India, and Greece around the same time.
Roman Empire (63 BC - 14 AD)
- The Roman government kept detailed financial records of Emperor Augustus' stewardship of Roman resources.
- Augustus prepared a rationarium (account) in 23 BC, listing public revenues, cash in the treasury, and taxes.
14th Century
- Luca Pacioli, the "Father of Accounting", was born and wrote the book "Summa de Arithmetica, Geometria: Proportioni et Proportionalita".
- The book included a section on methods of recording merchant transactions, including ideas about double-entry bookkeeping.
17th Century (The French Revolution)
- The thorough study of accounting and development of accounting theory began during this period.
- Social upheavals influenced the development of accounting, with the rise of cost accounting.
18th Century
- Josiah Wedgwood, an entrepreneur and cost accountant, contributed to the development of accounting.
- William Seward Burroughs invented and patented the first workable adding machine in 1885 in St. Louis, Mo.
19th Century
- The modern, formal accounting profession emerged in Scotland in 1854 with the creation of the Chartered Accountant (CA) profession.
- The modern accounting profession began in Europe and America during this period.
Present Day
- Accounting standards, such as GAAP, IFRS/PFRS, and IAS/PAS, guide accountants in their practice.
- The profession continues to evolve with the increasing dependence on digitalization and smart technologies, globalization, and increased regulations.
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Description
Explore the evolution of accounting from ancient civilizations to modern times. Learn about the early accountants like 'Jerry of Jericho' and evidences found in archaeological discoveries. Discover how accounting practices have developed over centuries.
