Please enable JavaScript.
Coggle requires JavaScript to display documents.
INTRODUCTION TO ACCOUNTING - Coggle Diagram
INTRODUCTION TO ACCOUNTING
NATURE
art
deals with financial info and transaction
process
info system
service activity
FUNCTIONS
Meeting legal requirements
Protecting assets of a business
Financial reports of an entity can be communicated
Assistance to management
maintenance of systematic records
assess the effectiveness of their business operations.
provide quantitative info
helps to see the true picture of the business in financial terms
HISTORY
INDUSTRIAL
fixed assets
(19TH CENT) BEGINNINGS OF MODERN ACCOUNTING IN EUROPE AND MODERN AMERICA
scotland (1854)
late 18000s
1887
FRENCH
development of accounting theory
DOUBLE ENTRY BOOKKEEPING
• Luca Bartolome de Piccioli
• Summa de Arithmetical
(PRESENT) DEVELOPMENT OF MODERN ACCOUNTING STANDARDS AND COMMERCE
CRADLE OF CIVILILATION
clay tablet