Accounting is one of the oldest professions. Saga accounting dating back to the early days of civilization driven by the trade system of plants and products that are essential to survival. As barter system expanded to include money exchange, methods were formalized around 2000 BC. To include the establishment of detailed records of the quantities and relative values.

Effects oldest auditors

With archaeological artifacts, scientists are learning more about the true influence the earliest accountants had on civilization. With their discoveries, archaeologists have discovered accountants participated in the development of:

o store – expand the market for and access to goods and services

o cities – such as trade grew, so did the market

o the concepts of wealth and numbers – personal and public policy

o write – understandable system of accurate record keeping

o double entry accounting – related to the birth of the Italian Renaissance

o money and banking – helped the company avoid bankruptcy in Industrial Revolution

father Accounting

Saga accounting is not complete without Luca Pacioli (1445 – 1517), also known as Friar Luca dal Borgo and “Father of Accounting”. Pacioli is credited for the “birth” of accounting. In 1494, he wrote a textbook that was a compilation of mathematical and accounting knowledge of his time. His textbook provided the first printed description of double-entry accounting system used by Venetian merchants in the late 15th century, including a similar accounting cycle as we know it today. The system described journals and ledgers with sections for assets, liabilities, capital, income, and expenses found on the modern accounting balance sheet.

Modern Accounting

As civilization developed, the business grew and so did the markets and by … responsibility. Successes depended more and more on accurate and reliable financial data. Over time, the role of the auditor has become an integral part of almost every aspect of day-to-day business and government regulation. History has led modern accounting to become a global, real-time integrated information drive towards accounting knowledge and stressed the importance of the accounting profession.