Accounting: Why accounting and finance is important
Accounting is a field that started many many many years ago. It is commonly believed that the first roots of accounting appeared more than 7000 years ago in Mesopotamia when things like writing, counting and money started. The career of an accountant can be traced back to the years 300 BC of which proof was found when tokens and scripts of bookkeeping were discovered in Iran. If you are interested in the full history of accounting you can read it where Rob Browne has recorded it on the website of G2 . In 1494 father of modern accounting, Luca Pacioli described a principle that forms the basis of modern accounting. He invented the double-entry principle which is the basis of the debit and credit entry systems that is still used in ledgers and journals every day. Why is accounting important? Accounting is a system that helps businesses, individuals and any organisation keep track of their finances and help them to record, organize, analyze a...