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Accounting Standard And International Accounting Standards Video

#1 - Chapter - 5 Accounting Standards and International Financial Reporting Standards [Part - 1] Accounting Standard And International Accounting Standards

The history of accounting or accountancy can be traced to ancient civilizations.

Accounting Standard And International Accounting Standards

The early development of accounting dates back to ancient MesopotamiaStandarf is closely related to developments in writingcounting and money [1] [4] [5] and early auditing systems by the ancient Egyptians and Babylonians. In India Chanakya wrote a manuscript similar to a financial management book, during the period of the Mauryan Empire. His book "Arthashasthra" contains few detailed aspects of maintaining books of accounts for a Sovereign State. The Italian Luca Paciolirecognized as The Father of accounting and bookkeeping was the first person to publish a work on double-entry bookkeepingand introduced the field in Italy.

The modern profession of the chartered accountant originated in Scotland in the nineteenth century.

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Accountants often belonged to the same associations as solicitors, who often offered accounting services to their clients. Early modern accounting had similarities to today's forensic Accounting Standard And International Accounting Standards. Accounting began to transition into an organized profession in the nineteenth century, [9] with local professional bodies in England merging to form the Institute of Chartered Accountants in England and Wales in Accounting records dating back more than 7, years have been found in Mesopotamia[11] and documents from ancient Mesopotamia show lists of expendituresand goods received and traded.

The early development of accounting was closely related to developments in writingcountingand money. In particular, there is evidence that a key step in the development of counting—the transition from concrete to abstract counting—was related to the early development of accounting and money and took place in Mesopotamia [1].

Accounting Standard And International Accounting Standards

Other early accounting records were also found in the ruins of ancient BabylonAssyria and Sumerwhich date back more than 7, years. The people of that time relied on primitive accounting methods to record the growth of crops and herds. Because there was a natural season to farming and herding, it Sttandards easy to count and determine if a surplus had been gained after the crops had been harvested or the young animals weaned.

Accounting Standard And International Accounting Standards

Between the 4th millennium BC and the 3rd millennium BC, the ruling leaders and priests in ancient Iran had people oversee financial matters. In Godin Tepe's findings, the scripts only contained tables with figures, while in Tepe Yahya's findings, the scripts also contained graphical representations.]

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