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I will make an assignment on conceptual framework of Accounting. Please Explain what is the cost history and conclusion of this framework?

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Question added by Nuruzzaman Farabi
Date Posted: 2015/11/09
FITAH MOHAMED
by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

.Accounting is the language of business, it is the meaning of the registration of economic, financial and social relations in numbers.

 

Accounting information is used in business management and the basis for the organization to take decisions and to identify the results of its operations as well as to identify the aspects of investment and sources of funds.

 

Accounting known since the beginning of human civilization.

 

Most studies indicate that more sophisticated accounting systems the old system, which was defined by the pharaohs in Egypt, where he was the accountant uses the records to count the amount of the wealth of kings and czars and pharaohs .

 

Until the beginning of the tenth century was the accounting records primitive little more than prove the diary merchants and moneylenders financial futures transactions with third parties with a view to show the consequences of these transactions of the rights and obligations.

 

Cash transaction was the merchant personal subjects them to its control without the need for registration was launched with a number on this method of recording financial transactions term single entry .

 

The industrial revolution had the big effect  in the evolution of the accounting .

 

Accounting evolved and multiplied their branches and means and methods, and found an independent accounting bodies took working on developing knowledge of accounting and conduct research and studies and to make recommendations and to develop accounting principles that enable this knowledge to keep abreast of all economic developments

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