The evolution of accounting

The Evolution of Accounting

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The evolution of accounting

Accounting homework

Background on accountingThe idea of accounting is an age old practice that has been around since the Mesopotamia era. The word accountant is from the French word, compter and from the Latin word, computare. Accounting occurred in the ancient times of Babylon, Assyria, and Sumerian, as well as Mesopotamia.

The evolution of accounting

Accounting homework

Today, in addition to in historic times, we use many forms of accounting. We use accounting practices in our day-to-day lives in many different aspects. It is vital that we keep “tabs” on numbers and an eye on our finances as to prevent any mistakes in the long run that could lead to financial ruin.

The evolution of accounting

Accounting homework

The idea behind accountingThere are many functions of both the idea of accounting and accountants in general. The need for bookkeeping and records, as well as keeping numbers is both an organizational tool that is used by many, as well as a framework for an entire business model.

The evolution of accounting

Accounting homework

In order for a business to thrive and progress, it needs to have a strong sense of bookkeeping properties, which incorporates accounting greatly. Even in households, there is a large need for a type of accounting practice. The numbers of every bill and purchased item needs to be accounted for in one way or another to prevent a debt or loss of money. This idea of organization and checks and balances is what keeps bookkeeping and accounting so relevant today.

The evolution of accounting

Accounting homework

SpecializationThe idea of specialized accountants is also necessary if the amount of numbers and receipts and payments is just too much for one or even a few people to keep track of. An accountant by trade is trained in the idea of accounting for and organizing everything that deals with bookkeeping and keeping all the numbers organized. A proper accountant knows how to organize the receipts and payments and keep everything at arm’s length if there is ever a problem that needs to be addressed down the road.

The evolution of accounting

Accounting homework

Accounting todayThese days, accounts are more important now than ever. With the advent of computers, there is a quicker way of doing the actual accounting, but there are so many more things to take into account. There are more things that are checked and more things that need to be addressed and accounted for.

The evolution of accounting

Accounting homework

Just the government alone requires the income tax be filed and an accountant usually needs to be involved in this tedious transaction. There are many different forms and specific paperwork that needs to be filled out in order not to miss anything. A proper accountant has the knowledge to fill out the proper paperwork and send all appropriate documents to the individual or individuals in question.

The evolution of accounting

Accounting homework

It's always requiredThere are times when many people choose not to use the assistance of an accountant and they might become confused as to their financial model or not know where some of their revenue went. This is the time when a productive accountant comes into play.

The evolution of accounting

Accounting homework

The reality is that even if an individual or several individuals does not want to use a specialized account to assist them, they still need to do some type of accounting on their own time and some form of bookkeeping. Anything that is bought or sold or used should be accounted for, even if the accounting is done by the individual themselves and not a professional accountant.

The evolution of accounting

Accounting homework

Study accountingIn order to become a professional accountant, one needs to complete a high level of education and study. The education that is necessary includes all aspects of accounting and bookkeeping and other facets of the entire accounting profession.

This completion will assist the prospective accountant for when they start doing the accounting work for customers and many different people with different jobs, businesses and financial outlooks.

The evolution of accounting

Accounting homework

A proper accountant has an education that encompasses the many facets of the accounting process and has the knowledge and experience to impart their education on the lives of the people that they work for. An accountant is also able to help the public with their taxes.

The taxes for many people can become a tedious and very confusing process. Since the taxes depend on the how much money the individual makes, the taxes can change drastically from one person to another person.

The evolution of accounting

Accounting homework

This change and variation can be very confusing to most people if they are not well versed in the accounting specifics. The taxes that an individual pays also incorporate the property they own, if they have any dependants, and many other factors.

The evolution of accounting

Accounting homework

The difficulty with taxes is no one person is able to compare their situation with anyone else, because even small changes are taken into account and affect the taxes that an individual or family must pay. Then there are other instances where a professional accountant is able to help individuals get money from the government through different assisted programs and other perks that certain individuals are able to obtain.

The evolution of accounting

Accounting homework

SummaryIn recent times, the accounting profession has changed for professional accountants drastically and the entire bookkeeping and private accounting practices for individuals who do not practice professional accounting has changed as well.

The reason for this change is the internet and great leaps in technology. The internet and computers in general allow much more information to easily be inputted into a form than it had ever been before.

The evolution of accounting

Accounting homework

This makes things quicker and more easily to be done by anyone, making professional accountants actually more obsolete, or in essence, easing the job requirements of professional accountants. The internet and computers has helped in many ways, but there is always a downside to a strong upside. And, there are more privacy issues with the technological advancements now, more than before.

The Evolution of Accounting

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