Stewardship accounting, Accounting Basics

In earlier times in history, wealthy people utilized 'stewards' to direct their property. These stewards made an account of their stewardship to their owners periodically. This idea lies at the root of financial reporting even now that basically engages the orderly recording of business transactions, generally termed as 'book-keeping'. In fact the accounting ideas and procedures, in use at present for systematic recording of business transactions have their origin in the practices utilized by merchants in Italy during the fifteenth century. The Italian method that particularly began to be termed as 'double entry book-keeping' was adopted by the other European countries during the nineteenth century. "Stewardship accounting", means it is related along with the requirement of business owners to maintain records of their transactions, the tools and property they owned, debts they owed and the debts the others owed them.

Posted Date: 4/2/2013 6:50:11 AM | Location : United States







Related Discussions:- Stewardship accounting, Assignment Help, Ask Question on Stewardship accounting, Get Answer, Expert's Help, Stewardship accounting Discussions

Write discussion on Stewardship accounting
Your posts are moderated
Related Questions

HOME Finance Company Limited made an after-tax profit of $3.172 million for the year ended June 30, 2008. Chairman James Datta said this was a milestone for the company, with a

when youre using accounting software why would you use hot keys and shortcuts a.to quickly access commands b.to input data for you c.to start the program d.to write checks

what is the accounting concepts and conventions? and what is the procedure to follow the accounting formats

Which of the following items will be entered in the cash payments journal of an entity when app applicable subsidiary journals are in use? Merchandise purchased on credit Merchand

Hello, I work in the Events Department for a country club in Rhode Island. We are trying to figure out the following question for an invoice: A restaurant bill is $18.50 and inclu

Q. What is Inventory? Inventory -- Supply or stock of products and goods that a company has for sale. Amanufacturer may have 3 kinds of inventory: raw materials waiting to be c



Q. Explain about income statement? The income statement, sometimes called as an earnings statement that reports the profitability of a business organization for a stated period