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Evolution of Accounting

Accounting is thousands of years old; the earliest accounting records, which

as business has advanced. Early accounts served mainly to assist the memory of

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Accounting is thousands of years old; the earliest accounting records, which

dates back more than 7,000 years ago, were found in Mesopotamia (Assyrians). The

[填空题]Accounting
Accounting is the process of systematically collecting, analyzing, and reporting financial information. Bookkeeping is essentially record-keeping which is part of the overall accounting process. A private accountant is hired by a specific organization to operate its accounting system and to interpret accounting information. A public accountant performs these functions for various individuals, or firms, on a professional-fee basis. (9) .
The accounting process is based on the accounting equation, assets = liabilities+ owners’ equity. (10) .There are five steps in the accounting process: 1) Source documents are analyzed to determine which accounts they affect. 2) Each transaction is recorded in a journal. 3) Each journal entry is posted in the appropriate general ledger accounts. 4) At the end of each accounting period, a trial balance is prepared to make sure that the accounting equation is in balance at the end of the period. 5) Financial Statements

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Many people think of accounting as a highly technical field which can be understood only by professional accountants. Actually, nearly everyone practices accounting in one form or an other on an almost daily basis. (9) ... Whether you are preparing a household budget, balancing your checkbook, or preparing your income tax return, you are working with accounting concepts and accounting information.
Accounting has often been called the "language of business. " (10) ... What are "corporate profits" What levels of corporate profits are necessary to finance the development of new products, new jobs, and economic growth One cannot hope to answer such questions without understanding the accounting concepts and terms involved in the measurement of income.
Since a language is a means of social communication, it is logical that a language should change to meet the changing needs of society. (1