My Blog, I am Manishkumar Shrivastav doing the job in a private limited company as an executive accountant for the last 15 years. I am doing the job from my study period for being practically knowledgeable about accounting. After the completion of my study, as per my financial condition, I was doing a private job in the accounting field. Now I thought will try to sharing knowledge in simple word in my blog.
Accounting is thousands of years old and maybe traced to ancient civilizations. The first development of accounting dates back to ancient Mesopotamia and is closely associated with developments in writing, counting and money. There is also evidence of early forms of bookkeeping in ancient Iran and early auditing systems by the ancient Egyptians and Babylonians.
Double-entry bookkeeping was pioneered in the Jewish community of the early-medieval Middle East and was further refined in medieval Europe. With the development of joint-stock companies, accounting split into financial accounting and management accounting.
The first published work on a double-entry system was the Summa de arithmetica, published in Italy in 1494 by Luca Pacioli (the “Father of Accounting”). Accounting began to transition into an organized profession in the nineteenth century, with local professional bodies in England merging to form the Institute of Chartered Accountants in England and Wales in 1880.
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