The day civilization had started, ancient human being tried to keep track of their belongings- and the era of Accounting started. It is documented that during the ‘Harappa’ and ‘Mesopotamia’ civilization, people were searching for some means to maintain the record of their crops and products from their household animals. So they developed some process to do the same. Even, some chapters of the New Testament of the Bible has stated about accounting. It was talked in the Parable of the Talents (Matt. 25:19) Apart from that, accounting was also mentioned in the Hindu Puranas, Ramayana, and Mahabharata. The Muslim’s holy book Quran also referred to simple measures of accounting. Ibn Taymiyyah, an Arab writer, was well known for his accounting capability. In his book Hisba (means ‘Calculation’), written in the 12th Century, he mentioned about detailed accounting procedures used by the Muslims dated back to mid 7th Century AD. In his writing, he also informed that the accounting applications were influenced by the Persian and the Roman civilizations they have worked together during their worldwide trading. Benedetto Cotrugli alias Benedikt Kotruljevic, wrote the first book on accounting. He was a merchant from the modern Croatia. While trading with the local merchants in the Venice, Italy he became well acquainted about double entry book keeping. Later, he penned down all his experience and the first book on accounting ‘Della Mercatura et del Mercante Perfretto’ was born in the year 1458. Unfortunately, this book was not published till 1573. Luca Pacioli alias Friar Luca Dal Borgo, is considered as the father of Accounting (1445-1517). He encoded all the techniques of maintaining accounts used by the merchants of Venice, Italy at that point of time in his book ‘Summa de arithmetica, geometrica, proportioni et proportionalita. It was published in the year 1494. The system mentioned by him is still used by the modern day accountants. |
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