Accounting Technology

From the early days of clay tokens to the invention of the abacus, history is as old as civilization. It wasnt until the commercial revolution at the end of the dark ages that double-entry bookkeeping came into existence. (It began in the Venice/Florence area in Italy.) A hundred years later, Luca Pacioli, a Franciscan monk, wrote a math book that suggested merchants needed three things: sufficient happen upon or credit, an explanation system, and a good bookkeeper. Today accounting is commonly offered as a major of study. What do you, as a prospective accounting major, need to k in a flash close to the field and the technological advances in accounting? What is commonly sleep with today as cost accounting (defined as The edify of estimating, tracking and controlling product and service cost) didnt start until the late 18th century, and was spawned by an unlikely solutiona world famous potter. Josiah Wedgwood was a highly friendly potter when a depression hit, and he d iscovered that not only were his clerks ignoring much needed paperwork, they were also stealing piazza hand over fist. He took the time to examine the books in detail, noting inaccuracies and becoming aware of the importance of calculating overhead into the cost of his pottery.

He hired a new clerk and began weekly accounting reviews, and according to historians, the concepts of economies of scale and sunk costs were discovered. He changed the prices of his pottery to reflect the influence of demand, creating both a high-end goggle box channel and a lower quality mass commercialize line. Wedgewoods company was one of the few to survive that depression. It took other l years or so for the occupation now know as accountants ! to come into vogue. In the mid-19th century, a company of clerks in London advertised their services as accomptants. As duty regulations increased along with taxes, the need for professional spot crunchers became clear. The introductory accounting firm opened in 1845 in London, but accounting...If you want to get a full essay, coif it on our website: OrderEssay.net

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