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
write short notes on 5 modern accounting techniques


Formed under the Securities and Exchange Act of 1934 the SEC (Securities and Exchange Commission) is a government agency that administers important acts dealing with the interstate

explain how accounting information may be used when an owner wants to justify a price in one of their lines of house paint

QUESTION It is generally recognised that power is an essential component of accountability and that greater accountability is recognised towards those stakeholders who have mor

describe why a high stock turnover is considered to be a good thing

Along with a view to harmonise varying accounting policies and practices recently utilize in India, the Institute of Chartered Accountants of India (ICAI) created the Accounting St


It is a national organization of female Certified Public Accountants (CPAs) in America. The AWSCPA was established to encourage the interests of female CPAs in America by diverse

Standards at International Level: In view of the development of international trade and multinational enterprises, the requirement for standardization at the international level w