Accountancy: The Importance of it in our Society and

How it Begins

How important is this course accountancy in our society? How Accounting begin? how it started

and why it is called “Accounting as the language business?”. The accounting started at 2,000 B.C

in the places of Babylon, Greece and Egypt and in the Assyria at 3,500 B.C. At this time they

found hidden papers showing tax collection to people and citizens of a king. Papers showing

costs such as labor wages, materials costs and more to make pyramids in Egypt.

The first book of accounting was written by Cotrugli in Naples, but in modern times, the book

was prepared by an Italian Mathematician Fr. Luca Pacioli in 1494.

Because of the writings he has written it makes him to be called the father of accounting.

The 15th century, an Italian usually trusts his fiduciary on his possessions and they are the one

who are watching over the daily activity they are taking.

From these words, accounting is common or often used.

After the 16th century, the exchange of goods started or became known in the so-called "trading"

and therefore the recognition of income and the preparation of various business reports started.

The 19th century has been the beginning of a change in the exchange and trading industries

from the simple structure of a business to a more complex development of a variety of

businesses.

Due to this huge change, there is a need to increase the reporting of information

and because of modern times and modern technology such as computers, it has brought great

changes in the accounting industry, from the manual to modern and electronic data processes.

PASITENG, DANICA MAE S. / English 1B / 1:30-3:00 MW / May 10, 2019

Accounting is a very important term to our modern society. It is the career for men and women

who at the start have their eyes set on top positions in industry, management, government, and

general business. Accounting is a basic need of every businessman, from the operator of a filling

station to the government. It's so important to our society. None of the business organization can

operate without is. They are there-somewhere-in every business. In small business, people use

pen, ink and skill keep the records. In large business, modern accounting machines are used to

operate. Men and women are directing these machines in the accounting process. Wise

businessmen enter business must have some accounting knowledge.

Accounting is a vital element of business. It records the way a business has grown and, after

analyzing figures, suggests the way it should go in the future. Fortunes are gambled on the

advice of accountants.

PASITENG, DANICA MAE S. / English 1B / 1:30-3:00 MW / May 10, 2019