Accounting as a whole might be seen as a boring topic for most, but the origins of accounting are actually very interesting. In this article, we are going to take a looking at how accounting started.
In the video, “Brief History of Accounting,” we learn that the earliest form of accounting came from a man named Luca Pacioli during the renaissance. Pacioli published a book that is seen as the basis for modern day accounting, with a lot of words that we use today coming from this book.
Although his version of accounting might look a little different than what we know today, there is no doubt that Pacioli created the field.
In the 1800s industry in England was changing. The video explains that in Scotland accountants asked the queen to give them legal rights in area of accounting. This is where we see modern accounting form. It is from here on that there was some kind of legal right to practice the profession of accounting.
As we look at today’s society we see accounting as a distinguished profession which requires a high level of skill in math and finance. It’s interesting to learn how such a fundamental part of business today was born.