Term Papers on Accounting History

Term Paper Title	Accounting History
# of Words	4590
# of Pages (250 words per page double spaced)	18.36

Accounting History

     Bookkeeping and record-keeping methods, created in response to the development of trade and commerce, are preserved from and medieval sources.  Double-entry bookkeeping began in the commercial city-states of medieval Italy and was well developed by the time of the earliest preserved double-entry books, from 1340 in Genoa.
     The first published accounting work was written in 1494 by the venetian monk Luca Pacioli (1450-1520).  Although it disseminated rather than created knowledge about double-entry bookkeeping, Pacioli’s work summarized principles that have remained essentially unchanged.  Additional accounting works were published during the 16th century in Italian, German, Dutch, French, and English, and these works included early formulations of the concepts of assets, liabilities, and income.
     The Industrial Revolution created a need for accounting techniques that were
adequate to handle mechanization, factory-manufacturing operations, and the mass production of goods and services.  With the emergence in the mid 19th century of large, publicity held business corporations, owned by absentee stockholders and administered by professional managers, the rare of accounting was further redefined.
     Bookkeeping, which is a vital part of all accounting systems, was in the mid-20th  century increasingly carried out by machines.  The wide-spread use of computers broadened the scope of bookkeeping, and the term data processing now frequently encompasses bookkeeping.

Occupational information

NATURE OF ACCOUNTANCY PROFESSION

The work of an accountant lies, basically, in identifying, measuring, and communicating financial information about economic entities to interested parties.  Most of their financial activities conclude with the preparation of financial reports, such as income statements, balance sheets, and statements of cash flows.  The data they provide is used to make managerial decisions, either on government or businesses, since the financial condition is always taken in consideration. Their duties depend on the nature and size of the institution they are working for. Beginners usually start as ledger accountants, junior internal auditors, junior public accountants, or as trainees for technical accounting positions.  Students have the opportunity to get a part-time job, performing those duties in small businesses.
The four mayor accounting fields of employment are public, private (management or industrial), and government.
· Public accountants, who represent one-third of all the accountants, often work independently on a fee basis or as a member of an accounting firm. They can assume management advisor functions for their clients by assisting in budget policies and procedures formulation.  Audit bookkeeping records, prepare and certify their financial statements, conduct financial investigations, furnish testimony in legal matters, are also other services they perform for their clients.
· Most accountants work as private accountants getting salaried positions in a single company to handle its financial records.  Most of them function as internal auditors, evaluating financial systems and controlling procedures.  In some companies they are employed to carry out credit manager functions, which consist in controlling the account receivable to evaluate credit extensions to companies’ customers.
· The federal, state, and local government agencies employ government accountants to examine tits financial records.  Part of their work is to audit records of private institutions whose financial records are subject to regulations.
Accountants have a broad range of specialization choices within these fields.  The responsible for the installation and supervision of the controlling systems are the general accountants.  The record maintenance, accounts balancing and statement preparation and analysis is part of their job too.  Other types of specialization are:

1. Budget accountants are in charge of controlling the expenditures made by the entity to avoid excesses.  They also help in the prep...

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