Origin and Growth of Book-Keeping
Book-Keeping existed even in ancient times. But the modern system of Book-Keeping took it's birth only in 1494. In that year, Luca paciolo, an Italian monk, published a book called "Summa". This book was primarily a a book on mathematics. But it contained a section on Book-Keeping. In that section, the principles of double entry book-keeping were stated. By stating the principles of double-entry Book-Keeping, this book laid the foundation of the modern double-entry system of Book-Keeping. In the succeeding years many improvements took place in book- keeping particularly in England. The great expansion of industry and trade, brought about by the Industrial Revolution in the eighteenth century, led to further improvements in book keeping, and book keeping came to be used in several countries. In the twentieth century also, many improvements were made in book-keeping, particularly in England and U.S.A. Today, book- keeping is highly developed, and is in use in almost all the countries of the world.
Book-Keeping existed even in ancient times. But the modern system of Book-Keeping took it's birth only in 1494. In that year, Luca paciolo, an Italian monk, published a book called "Summa". This book was primarily a a book on mathematics. But it contained a section on Book-Keeping. In that section, the principles of double entry book-keeping were stated. By stating the principles of double-entry Book-Keeping, this book laid the foundation of the modern double-entry system of Book-Keeping. In the succeeding years many improvements took place in book- keeping particularly in England. The great expansion of industry and trade, brought about by the Industrial Revolution in the eighteenth century, led to further improvements in book keeping, and book keeping came to be used in several countries. In the twentieth century also, many improvements were made in book-keeping, particularly in England and U.S.A. Today, book- keeping is highly developed, and is in use in almost all the countries of the world.
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