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 strike 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 outright most the field and the technological advances in accounting? What is commonly live today as cost accounting (defined as The finish up 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 booming potter when a depression hit, and he discovered that not only were his clerks ignoring much needed paperwork, they were also stealing seat 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 be of his pottery.

He hired a new clerk and began each week 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 tv set channel and a lower quality mass market line. Wedgewoods company was one of the few to surviv e that depression. It took another(prenomin! al) l years or so for the occupation now know as accountants to come into vogue. In the mid-19th century, a congregation of clerks in London advertised their services as accomptants. As duty regulations increased along with taxes, the need for professional shape crunchers became clear. The introductory accounting firm opened in 1845 in London, but accounting...If you want to get a full essay, cast it on our website: OrderCustomPaper.com

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