Title: Double Entry - The fundamental concept of
accounting
Description: In this Web quest you are going to learn how Luca Pacioli started
accounts and get an overview of the double entry bookkeeping system.
Introduction
Who said we can’t have fun and learn accounting at the same time? This
is your opportunity to learn the fundamental concepts of accounting while having fun.
So here is your task: You must first take the time machine and go to the past and
discover the creation of accounting and how the double entry bookkeeping system
started. Then you are to come back to the present and reveal the basic accounting
terms we still use nowadays.
Are you ready to get into the time machine? Fasten your seat belt, start the engine and
enjoy the ride
Task
Once you have traveled into the past you should have gained the
knowledge on the following fundamentals of Accounting:
1. You will obtain an overview of the double entry system.
2. You will obtain an overview of the History of the double entry system.
3. You will identify all the different Books of Original Entry and their purpose in
Accounting.
4. Identify the meaning of important Accounting terms in a Fun Way.
TASK 1
Using the sites mentioned below and any other sites of your choice you are to prepare
a 200 word document in your own words using a word processor to discuss the work
of Luca Pacioli, who is known as the Father of Accounting. You are also to include a
picture of Luca Pacioli and to give an overview of the Double entry book-keeping
system.
The recommended sites are:
http://acct.tamu.edu/smith/ethics/pacioli.htm
http://www.canhamrogers.com/HDEB.htm
http://flynf.tripod.com/pacioli.htm
http://en.wikepedia.org/wiki/Luca_Pacioli
http://www.omegaaccountancy.co.uk/double-entry-bookkeeping.html
http://cbdd.wsu.edu/kewlcontent/cdoutput/TOM505/page13.htm
http://www.content4reprint.com/accounting/bookkeeping/basic-bookkeeping-andaccounting-skill-that-you-must-have.htm
TASK 2
In Accounting we have the Books of Original Entry. By using a word processor you
are to prepare a list containing all the books of Original Entry. You are also to
include the description and purpose of each book of Original Entry.
The recommended sites for this task are:
www.bized.co.uk/learn/business/accounting/busaccounts/pizza/stusix/htm
http://www.mycourse.co.uk/documents/samplecontent.pdf