History of Accounting
Any business needs to have a proper accounting so that it can not only estimate its expenses and gain but also determine the progress and place in the market. Calculation and accounting have been an integral part of any business since old days. With the first accounting system, known as fiscal system, to today’s accounting methods, there have been a lot of changes in the methods but one thing remained the same and that is the reason behind all these calculations, knowing the actual place in the market and plan new strategies according to it.
During the Mesopotamia period, accounting first emerged in the form of fiscal system. This practice was done to keep a record of all the agricultural trades and development. After this, accounting got some changes in the methods and was done through mathematical calculations. Luca Pacioli, who was a well known Italian writer and mathematician, developed a new way of teaching calculations to young children so that they can start learning accounting from the beginning.
With the span of time, the ways of keeping accounts have been modified. Earlier, there were no facilities like external help or accountants. Now, there are so many financial management services and CPA firms which can help your business in keeping a proper record of all your accounts. If you own a small business, you can have an accountant for doing all the accounts related work. All this can help you in keeping a track of the growth of your business and providing you a better vision for it.
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