E-mail us your request for an advertising quote! The Sumerian Mathematical System Sumer a region of Mesopotamia, modern-day Iraq was the birthplace of writing, the wheel, agriculture, the arch, the plow, irrigation and many other innovations, and is often referred to as the Cradle of Civilization.
May 24, Triple-Entry Accounting Accounting practices today are based on the double-entry method.
There have been many proposals by various accountants to expand this into a triple-entry accounting system. Why should the accounting profession consider changing? This paper will discuss this question by looking at how the double-entry system has developed, and what weaknesses it possess that could be strengthen by incorporating a triple-entry method.
History of Double-Entry Accounting There is evidence that even during the Mesopotamian era, a fairly complex accounting of possessions, purchases, and expenditures existed on tablets.
Extensive accounting methods also existed in Greece since the fifth century B. The middle ages had developed a fairly advance system of accounting just before the introduction of double entry accounting.
Accounting practices today are derived from these early systems. There are many influences from the developers of early accounting that extend into our practices today. One of these practice is the avoidance of negative numbers.
Through the use of debits and credits, accountants avoid the use of negative numbers. There are several reasons for this, such as control and ease of use for accountants who did not have the benefits of computers and calculators.
Perhaps, however, the initial introduction of the debit and credit was not linked to such reasons. The Chinese became the first to use negative numbers by using red rods for positive numbers, and black rods for negative numbers.
Evidence suggests that negative numbers appeared first in accounting rather than mathematics. Before the development of double-entry accounting, accountants relied on a chart of balance sheet accounts to record financial transactions. This creates a system that is very difficult to examine for accountability.
Consider the extreme problems such a system would pose today. Companies would publish Balance sheets without Income Statements. There would be no way for investors to examine the changes in equity. The development of double-entry accounting opened the realm of accounting into a whole new world, and a whole new chart of accounts.
The practice of double-entry accounting has existed for Centuries. Are these century old ideas so perfect and flawless that there is not a need for change?
Perhaps the publications of hundreds of documents daily on financial laws, ideas, and theories by various private, regulatory, and governmental agencies signifies the flaws and weaknesses of these age old practices. One flaw in current accounting practices is that financial statements attempt to predict the future though historical data.
When double-entry was developed, it was the need for this historical data to account for the change in equity that sparked the progression of single-entry accounting into a double-entry system. The historical records of transactions are an important part of any entity, however, this method was developed for the purpose of accounting for transactions; not predicting them.
Accountants today are attempting to use a very powerful and efficient tool for a purpose in which it was not designed. By attempting to alter this tool into completely different element, it has been damaged and the original purpose hampered.
Accountants are trying to both drive nails and cut wood with a saw.Ancient Mesopotamia must surely be the most influential civilization in world history. For a start, it was the first. The Mesopotamians were the first to build cities, use the potter’s wheel, develop writing, use bronze in large quantities, evolve complex bureaucracies, organize proper armies, and so on.
Science and Technology in Mesopotamia (Mathematics, Astronomy and Astrology, and Medicine) Mesopotamians are probably best known for invention of writing but their achievements in science and technology correspond to the level of socioeconomic development and are comparable with achievements of modern society.
Egypt and Mesopotamia Compared. The Origins Of Civilizations. Edited By: Robert Guisepi. Ancient Egypt. Besides Mesopotamia, a second civilization grew up in northeastern Africa, along the Nile. The Incas was the largest Empire in South America in the Pre-Columbian era.
This civilization flourished in the areas of present-day Ecuador, Peru, and Chile and had its administrative, military and political center located at Cusco which lies in modern-day Peru.
17 Facts that tells History of B abylonian civilization.. Babylonia is a very old Akkadian-speaking Afroasiatic state and an ethnical region located in central-southern region of Mesopotamia, which is 59 miles southwest of Baghdad in the present day Iraq.
Following the downfall of the Akkadian dynasty, two more empires rose to power – Assyrians in the north and the Babylonians in the south. Ancient Mesopotamian Achievements The Mesopotamians had contributed a lot in the field of Mathematics, Astronomy, Writing and Literature.
They have developed some very important concepts in the field of mathematics which have proved to be very .