Accounting In Ancient Mesopotamia

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Mesopotamia Accounting records have been found in the ancient valleys of ancient Mesopotamian civilization estimated at about 7,000 years old. Documents found in the area have shown the list of expenditure on goods received and traded in the area. Accounting developments involving silver and numerical currency systems have been used in the trading of local businesses including trade. The development of accounting in the days of Mesopotamian civilization is closely linked to the development of writing systems, calculating systems, currency systems and the banking system. There is evidence that the main step in the development of transition from concrete to abstract calculations is related to the early development of the accounting and currency…show more content…
One of the ancient Egyptian economic developments is that ancient Egyptians specialize in practicing accounting and bookkeeping elements during trade and commerce activities. The Phoenicians created phonetic alphabets aimed at preserving business, and there is evidence that individuals in ancient Egypt hold the title of the author. There is also evidence for early accounting in the Old Testament; for example, the Exodus Book describes Moses involving Ithamar to describe the material donated to the construction of the sacred tent. The ancient Egyptians also had a receipt statement in their trading affairs. By the 4th century BC, ancient Egyptians had an auditing system to check in and out of warehouse movements including audit reports written by people known as…show more content…
1. Luca Pacioli (1445 - 1517) Logical system logic system (record system) may have been realized in Italy before 1495, when Luca Pacioli, also known as Friar Luca dal Borgo published accounting methods in Venice. Luca Pacioli is known as the father of accounting because of the publishing of his mathematical book entitled Summa de Arithmetica, Geometria and Proportion or Proportionalita. Some of these scripts bear the description of multiple entry systems used in accounting records to date. In the 18th century, cost accounting was introduced to satisfy the rapidly expanding firms' production process. 2. John Gouge The oldest known English accounting book of books was printed in London by John Gouge @ Gough in 1543. The script is known as A Profitable Treaties called the Instrument or Book to learn to experience the good order of the keeping of the famous reckonings, called in Latin, Dare and Habere, and, in English, Debtor and Creditor (A profitable book or book to ascertain about the well-established system of known parties, IE debtors and
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