Practice Activity 1.1 Accounting in the Ancient Civilisations
Can you remember some facts about accounting in ancient civilisations?
Suggested answers to practice activity 1.1
Some facts about accounting in ancient civilisations include:
Financial accounting was associated with writing, counting, and money.
Demands from government authorities for tax on goods and services led to a form of financial accounting.
Incomplete accounting records were maintained by businesses. The business employed no form of double entry bookkeeping. Some of the accounting records kept were a list of expenditures, goods purchased and received, and goods sold or traded.
Financial accounting was associated with the trading activities of temples. ‘Temple economy’ featured many issues found in modern-day accounting.
Ancient Iran’s rulers and priests had people oversee financial matters.
Moses engaged the fourth and youngest son of Aaron named Ithamar to account for the inventory (that is, materials) contributed toward building the tabernacle. Its construction conformed to the vision God gave to Moses on Mount Sinai.
Can you search for other facts about accounting in ancient civilisations?
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