Origin of Bookkeeping | Evolution of Bookkeeping

Origin of Bookkeeping

The origin of bookkeeping cannot be said when it was started and we cannot trace out exactly.

It has been practiced from ancient time.

However, it can be said that the book- keeping was as old as money.

It has been practiced from the ancient period.

Book-keeping system was linked with the development of business.

As business developed, book-keeping also developed.

In ancient period, business was in a small scale and book keeping was not essential to that extent.

The increasing demands and needs of human beings and practice of currency gradually began to influence the business activities.

Scientific book-keeping system commenced in Italy about 500 years ago.

Luca Pacific published a book entitled ‘Summa de Arithmetica, Geometria et Properntione.’ in which he dealt with the modern principle of bookkeeping for that first time.

In that bookkeeping, he included the following provisional about the book-keeping:

·          Memorial (memorandum book)

·          Gestational (journal book)

·          Quadrant (ledger account)

Pacioli used the terms debito and credito.

These words came from the Latin words debeo means owed to me (to the proprietor) and credo means owned by (believe or trust).

The terms debit and credit are taken from their origin from debito and credito.

Pacioli explained that the double entry system have two folds if one made creditor, someone else should be made debtor.

This work was translated and published in English by Hugh Oldcastle in 1543 AD.

Later, James Paula improved the method of book-keeping with his view and concepts about book-keeping.

James Paula completed records of debtors and creditors.

In 1795 AD, Edward Jones published a subject matter about the book-keeping; in which he supported for two columns in journal.

Click on the photo for FREE eBooks

#####

Click on link for YouTube videos CHAPTERS OF CLASS 11

ACCOUNTING EQUATION  http://tiny.cc/c89jkz

BASIC JOURNAL ENTRIES IN NEPALI http://tiny.cc/uaakkz

BASIC JOURNAL ENTRIES http://tiny.cc/8aakkz

JOURNAL ENTRY AND LEDGER http://tiny.cc/caakkz

LEDGER http://tiny.cc/haakkz

SUBSIDIARY BOOK http://tiny.cc/399jkz

CASH BOOK http://tiny.cc/889jkz

TRIAL BALANCE & ADJUSTED TRIAL BALANCE http://tiny.cc/c59jkz

BANK RECONCILIATION STATEMENT (BRS) http://tiny.cc/q59jkz

DEPRECIATION http://tiny.cc/ugakkz

FINAL ACCOUNT: CLASS 11 http://tiny.cc/y89jkz

ADJUSTMENT IN FINAL ACCOUNT http://tiny.cc/keakkz

CAPITAL AND REVENUE http://tiny.cc/peakkz

SINGLE ENTRY SYSTEM http://tiny.cc/n19jkz

NON-PROFIT ORGANIZATION (NON-TRADING CONCERN http://tiny.cc/j09jkz

GOVERNMENT ACCOUNTING http://tiny.cc/hcakkz

GOSWARA VOUCHER (JOURNAL VOUCHER) http://tiny.cc/hcakkz

###########

***********

Thank for investing your time.

Please comment on article..

You can help me by sharing this article at your social media platform.

Jay Google, Jay YouTube, Jay Social Media

जय गूगल, जय युट्युब, जय सोशल मीडिया