![]() ![]() With the gradual-increased demand for human needs and desires, the necessity of Accountancy was felt sharply.Īt one stage Luca Pacioli – the father of Accountancy brought a revolutionary change in the field of accountancy by writing a book on Mathematics- “Summa de Arithmetica Geometria Proportioniet Proportionlita” – containing a chapter – “De Computes it Scriptures”- in which Double Entry System of bookkeeping was explained. With time human beings gradually started their social lives and started keeping their accounts by marking ticks on walls, making rope-knots and using various symbols. In the ancient period, when people happened to live in forests, jungles and caves and hunted animals for their livelihood, they used to inscribe the records of their daily hunting on the walls of the caves. ![]() But when, where and how the process of accounting practices exactly started is hot very much clear. The history and evolution of Accountancy are as ancient and diversified as the history of the evolution of human civilization, the beginning of the evolution of human civilization and the beginning of the evolution of accountancy is, so to say, twins.Īccountancy made its beginning since the ancient period. This exchange brings financial changes among the participants and everyone may have the curiosity to know the effects of financial changes and results Accountancy can answer these sorts of queries. So, the exchange of goods and services among them is imperative. Because all individuals have got their limitations, they are to depend on society as a whole for their necessary goods and services.
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