Read The History of Accounting: The Age of Record Keeping. Develop a bulleted list of 5-7 accounting practices you found interesting based on your review of this accounting age and briefly describe

Read The History of Accounting: The Age of Record Keeping.

Develop a bulleted list of 5-7 accounting practices you found interesting based on your review of this accounting age and briefly describe how these practices might relate to today’s accounting practices.

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A Brief History of Accounting:
The Age of Recordkeeping
Thomas G. Seiler
Franklin University

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Accounting is concerned with the recording and reporting of transactions for
goods and/or services.
This reporting has been evident from the time of the ancient
civilizations of Mesopotamia, Egypt, China, Hawaii, and the Inca Empire to the modern
accounting practices of today.
Professor Federigo Melis (1950) categorized accounting
history into four categories which were later labeled by Raymond de Roover.
These
labeled categories included the age of recordkeeping, the birth of the double entry
system, the age of stagnation, and the age of scientific accounting (Roover, 1955, p. 409).
This paper will review the accounting practices during the age of recordkeeping.
Financial Reporting in the Age of Recordkeeping
Historical evidence indicated that accounting practices date back to ancient times
approximating 10,000 years ago.
This is the earliest period in which artifacts detailing
accounting practices currently exist. Accounting may go back to even earlier times, but
historians and archeologists have not discovered and/or analyzed artifacts indicating any
earlier accounting practices.
The records of accounting practices are the primary sources
of documentation that historians analyze in presenting their findings.
The records of
accounting practices for the ancient Egyptian and the Mesopotamian regions are perhaps
the oldest known artifacts.
These artifacts consist of calamos reeds, clay tokens, and clay
tablets.
Ancient Mesopotamian Accounting Practices
The Mesopotamians left evidence of records of financial information dating back
approximately 10,000 years ago.
The Mesopotamians used a form of writing which
employed the use of symbols.
These symbols took the form of clay tokens (small pieces
of clay with markings) which later evolved into clay tablets.
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