ACCOUNTING is the system that measures business activities,
processes that information into reports and communicates the results
to decision makers.
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Bullae- first bill
Primitive accounting – beginning of the art of writing
Clay tablets- recorded payments of wages
Presence of bookkeeping in the ancient world has been attributed to
various factors including:
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Invention of writing
Introduction of Arabic numerals
Decimal system
Diffusion of knowledge of Algebra
Presence of inexpensive writing materials
The rise of literacy
Existence of a standard medium exchange
Double-entry method is not a discovery of science, it is the outcome
of the continued efforts to meet the changing necessities of trade.