On the Origins of Accounting and Its Adaptability

• In Event: Innovative and Emerging Issues 1

Abstract

The assertion that Italy is the birth of modern accounting may find support in the accounting literature. Attributing the creation of accounting to Pacioli and dating the birth of accounting to 1449 both are mistakes, which leave the questions of who invented accounting and when it was invented widely open. Furthermore, while the precise moment of time when accounting was first used is unknown, one can speculate that emerging needs of economic systems necessitates the creation of new business models that determine the purpose of accounting at any given time. Throughout time, many civilizations and societies have contributed to the development and advancements of accounting. Italy was the fortune county in which a number of "antecedents" had converged, making Italy the place where modern accounting was born, but not to make Italy the society that is solely responsible for such a birth nor are its citizens to be credited for the invention of accounting.

 

Author

• Khalid Rasheed Al-Adeem, King Saud University