In Box

A Historical Account

http://www.acaus.org/history If the words "credit" and "debit" make you nod off, you’ll be pleasantly surprised by a Web page of the Association of Chartered Accountants in the United States (ACAUS) — "Accounting: A Virtual History." Concise and highly readable, this two-year-old project offers a fascinating chronology of the evolution and globalization of modern accounting practices. ...

http://www.acaus.org/history

If the words "credit" and "debit" make you nod off, you’ll be pleasantly surprised by a Web page of the Association of Chartered Accountants in the United States (ACAUS) — "Accounting: A Virtual History." Concise and highly readable, this two-year-old project offers a fascinating chronology of the evolution and globalization of modern accounting practices.

Although rudimentary accounting techniques can be traced to Mesopotamian scribes in 3500 B.C., Renaissance-era Italians are considered the fathers of modern accounting. Franciscan friar Luca Pacioli’s definitive 1494 work Summa de Arithmetica, Geometria, Proportioni et Proprortionalita provided the basis for double-entry bookkeeping and was widely disseminated throughout Europe. The Scots formalized the accounting profession in the 19th century, creating the first societies of public accountants. When British capital began flowing to nascent U.S. industries in the late 1800s, accountants crossed the pond and set up shop in the United States.

ACAUS officials seek to "put into human terms the contribution of accountants… to human progress and development." So pay a visit. Even if you don’t know your assets from your elbow.

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