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.
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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
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
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
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