Development of Accounting Principles and Standards

Development of Accounting Principles and Standards

HISTORICAL DEVELOPMENT OF ACCOUNTING

          From the very earliest time, the levying and collection of taxes by government has called for record keeping and reports. Government reporting requirement has serve since antiquary to reinforce business needs for accounting system and controls. And with the substantial growth of the accounting profession many authors have divided these into four major categories namely The early financial accounting, the venture accounting, the joint stock accounting and finally the computerized accounting.  [Read more…]