Assignment 1

Assignment for History of Accounting

Name: Waleed Ahmed

University: IM STUDIES University of Peshawar

Class: 1st Semester

Section: A
Assignment 2

Introduction

Human civilization is as old as the world and then human life came in to existence. With the
passage of time human found other sources of survivals and different techniques and developed
methodologies to improve their living standards for this purpose many human beings started
thinking for different ideas. They utilized their limited and local resources which were later on
developed further in to new and modern commodities. Accounting is one the human creation
which was developed for the purpose of counting items and record keeping. Initially it was not
too much developed but with passage of time it replaced old practices. Now a days it has become
a centre of the business world.

History

Thousands of years ago accounting came into being. It is as old as human early civilization. It
started from the ancient Iraq (Mesopotamia). [2] Due to the interval flooding that area’s soil
become very rich for agriculture and other trading of their production. The people of the valley
made tokens from clay in different shapes and markings for their commodities. They made them
with symbols for e.g. as sheep, jugs of oil, bread, clothing etc to keep record.

Later on Before Christianity, china use4d accounting to evaluate the effectiveness of their
governmental programs and other civil servant who govern them. After that period in 5th century
Greece used the word “Public accountant” to allow its population to keep authority and control
of their governments finance. That time the most important word done by the Greece was the
introduction of coined money in 600 B.C.

Later on during the rule of Roman Empire accounting development further. It listed different
quantities such as distribution and grants of land to the people, money to military veterans,
building of temples, religious offerings and money spent on dramatic shows and gladiator events.
Beside these use4s accounting basis are also used in Quran and in the new testament of the bible
and other religious texts. [3]
Assignment 3

Modern Accounting

Modern accounting is creation of different thoughts, habits, convention and practices. Two
concepts have created about the current state of accountancy. In fourteenth and fifteenth century
the first concept was developed entry book keeping system. Later in nineteenth and twentieth
century second state of accountancy was created which was accountancy was created which was
accountancy professional. [4]

In nineteenth century the modern profession of the charted accountant originated in Scotland.
During that time, most of the accountants belong to the same family as solicitors and later
solicitors sometimes offered and later solicitors sometimes offered their accounting services to
their customers.

Conclusion

Thousands of years ago accounting came into existence which is taken as old as human
civilization. The people of Mesopotamia or the Modern Iraq used accounting to keep record of
their trade, products using clay made tokens. After that pre-Christian china used accounting to
evaluate the efficiency of their government. In 5th century Greeks introduced coin money and
they were using accounting to keep the record of their government’s finances.

Similarly Romans used accounting for grants of land, distributions and money spent for military
purposes. Now a day’s modern accounting is used for two concepts, one is double entry book-
keeping system and other is accountancy professionalization.

References
1. En.Wikipedia.org, Retrieved October 28, 2018

2. www.authorstream.com,Retrieved October 28, 2018

3. En.wikipedia.org, Retrieved October 28, 2018