Question: Note: I have only one hour to answer this question, help me please! Accounting has been around since the very first fiscal system emerged. As

Note: I have only one hour to answer this question, help me please!

Accounting has been around since the very first fiscal system emerged. As agricultural trade grew in importance, it was not long before early business people began to develop and use the calculative system of accounting. The modern-day practice of accounting is certainly far more sophisticated than its ancient ancestor, but its foundation and motives have remained the same. The sole purpose of accounting is to accurately calculate and keep records of monetary exchanges.

Required: Discuss the following statements:

1-History of Accounting Theory

2-Accounting Theory and Practice

3-HowAccounting Evolved

4-Key Elements of Accounting Theory

5-The Future of Accounting

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