What do you mean by accounting environment, Accounting Standards

Q. What do you mean by Accounting Environment?

Record keeping in an accounting sense is deliberation to have begun about 4000 BCE. The control, record-keeping, and verification problems of the ancient world had many characteristics similar to those we encounter today. For illustration, an ancient government as well kept records of receipts and disbursements and used procedures to check on the honesty and reliability of employees.

A study of the progression of accounting suggests that accounting processes have developed primarily in response to business needs. As well economic progress has affected the development of accounting processes. History demonstrates that the higher the level of civilization the more elaborates the accounting methods.

The emergence of double entry bookkeeping was a critical event in accounting history. In 1494 a Franciscan monk Luca Pacioli illustrates the double-entry Method of Venice system in his text called Summa de Geometric, Arithmetical, Proportion and Proportionate (Everything about arithmetic, geometry, and proportion). Several consider Pacioli's Summa to be a reworked version of a manuscript that circulated among teachers and pupils of the Venetian school of commerce and arithmetic.

Seeing as Pacioli's days the roles of accountants and professional accounting organizations have expanded in business and society. As professionals accountants have a accountability for placing public service above their commitment to personal economic gain. Complementing their compulsion to society accountants have analytical and evaluative skills needed in the solution of ever-growing world problems. The special capability of accountants or their independence and their high ethical standards permit them to make significant and unique contributions to business and areas of public interest.

Posted Date: 6/29/2013 6:49:15 AM | Location : United States







Related Discussions:- What do you mean by accounting environment, Assignment Help, Ask Question on What do you mean by accounting environment, Get Answer, Expert's Help, What do you mean by accounting environment Discussions

Write discussion on What do you mean by accounting environment
Your posts are moderated
Related Questions
procedure followed in govt.system of accounting in india

Prepare the Trading Account from the subsequent figures: Opening Stock 40,000 Power 6,000 Purchases 1,80,000

#questionThe book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were

Imputed Interest - If no interest or an unrealistic amount of interest is charged in a salve involving certain kinds of deferred payments, then transaction would be treated as if r

The first municipal bond insurance company was created in 1971 as a supplementary of MGIC Investment Corp. of Milwaukee; now usually called as Ambac Financial Group, Inc. The Ameri

In 1984 the Governmental Accounting Standards Board (GASB) was recognized with a fulltime chairperson and four part-time members. The GASB issues statements on financial and accoun

How long after payment will it take to get a response#question?

Question 1: Businesses have become increasingly aware of the environmental implications of their operations, products and services. (a) Describe why businesses should be con

Consisting mainly of accounting educators the American Accounting Association (AAA) has sought to encourage research and study at a theoretical level into the concepts or standards