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 discover or credit, an invoice 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 kat once almost the field and the technological advances in accounting? What is commonly recognize today as cost accounting (defined as The gain of estimating, tracking and controlling product and service cost) didnt start until the late 18th century, and was spawned by an unlikely upshota world famous potter. Josiah Wedgwood was a highly favored potter when a depression hit, and he discovered that not only were his clerks ignoring much needed paperwork, they were also stealing space 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 cost 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 picture channel and a lower quality mass grocery line. Wedgewoods company was one of the few to survi ve that depression. It took other l years! or so for the occupation now know as accountants to come into vogue. In the mid-19th century, a gathering of clerks in London advertised their services as accomptants. As duty regulations increased along with taxes, the need for professional enumerate crunchers became clear. The introductory accounting firm opened in 1845 in London, but accounting...If you want to get a full essay, site it on our website: OrderCustomPaper.com

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