CHAPTER 1 ACT 1
Date Invention or discovery Present Invention
~ 2000 BC. a sort of hand-operated
mechanical calculator using
beads on rods, first used by
Sumerians and Egyptians
1801 Joseph-Marie Jacquard
invents the automated cloth-
weaving loom. The punched
cards it uses to store patterns
help to inspire programmable
computers
1803 Henry and Sealy Fourdrinier
develop the papermaking
machine
1973 Robert Metcalfe figures out a
simple way of linking
computers together that he
names Ethernet. Most
computers hooked up to the
Internet now use it
1876 Alexander Graham Bell
patented the telephone,
although the
true ownership of the invention
remains controversial even
today
1920s Philo T. Farnsworth invents
modern electronic television
1960s Douglas Engelbart develops
the computer mouse
1971 Ray Tomlinson invented and
developed electronic mail, as
we know it today, by creating
ARPANET’s networked email
system.
1982 Dan Bricklin changed the world
forever when he codeveloped
VisiCalc, the first electronic
Importance
Abacus – Calculator Used for computations, solving
problems and a must-have,
especially in financial management
course
Programmable A computer program, such as
computers accounting software, is crucial
because it helps financial
management students easily record
a company's financial transactions
when performing tasks.
Paper Encoding transactions of companies
studied by accounting students.
Computer networks; A very important aspect, particularly
Internet for the complex study of business
and accounting, as well as an
accessible guide for students
Telephones Used for communication because we
need it not only for the internet but
also to conveniently share
information about our lesson.
Television; LCD TV Finance students must keep up with
current events because we are
studying business fundamentals.
Learning accountancy entails being
aware of our country's current
situation.
Computer mouse A small device that is sometimes
overlooked, but it is a huge help for
us finance students because it
allows us to work faster and more
efficiently, especially when using
gadgets/devices to encode
transactions.
Electronic email Nowadays, we use e-mail to send
private documents such as activities
and projects more quickly and
securely.
Microsoft Excel Excel is widely used in accounting
for balance sheets, receipts, and
expenses, among other things. Excel
 spreadsheet and grandfather of
programs you probably use
every day like Microsoft Excel
and Google Sheets.
1989 Tim Berners-Lee invents the
World Wide Web
is a useful tool for finance students
because it allows you to create a
spreadsheet with calculations that
are done automatically within the
cells.
World Wide Web Data transactions are properly
recorded directly into financial
statements with the help of
computerized accounting
technology, which speeds up the
production and availability of
information.