Double entry book-keeping has been in existence for a long time. In fact, it revolutionised the way in which accounting records were kept and what they tried to record. Many events, including the emergence of this form of recording caused the role of the accountant and the purpose of financial statements to change.

Required: Discuss the emergence of accounting as it is today. Identify FIVE major historical events that stimulated change in the way financial statements are prepared.

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The emergence of accounting as it is today Luca Pacioli is perceived as the dad of accounting and accounting He was the principal individual to distri... View the full answer