Accounting And Computer The Summa By Lucia Pacioli Essay

Abstract Nowadays, accounting and computers are interrelated with each other. Almost every business or people depend on computer for their day to day work, for many of us it has also become a part of our life. But on those days when computer were not in used for doing the business transaction or recording the financial notes, it was really hard to track assets and liabilities and to find out the actual profit and loss. Until 1974, the pattern of doing accounting was same as ancient Egyptians had started doing it 3000 years before. People during 1980’s didn’t even believe that they need computers. Gradually accounting style started to migrate from Europe to the middle east and then west. As the business grows bigger and is run by more than one person, it needs systematic way to monitor the cash. Then the Double Entry System took a birth in Italy in 13th century, which got more popular after the publicity of book called ‘The Summa’ by the writer Lucia Pacioli (known as father of accounting). However, the change in technology didn’t made any differences until the price of computers became really cheap. There was a time before the days of Microsoft or PCs when Mark Silberman, managing director of AccFin, used to lease out the firm’s computer at R900/hour to break even. But in mid-1980’s IBM launched the PC, which took the rapid evolution on accounting system from paper based to spreadsheets. Accounting history of Australia But talking about Australian accounting history,Show MoreRelatedAccounting Software For A Business Essay1257 Words   |  6 PagesIndividual Assignment Name: Altaf Gohar Roll no: EAB2389 Accounting Software/Packages used in Australia Accounting  is referred as an art of collecting, classifying, and manipulating financial data for organizations and individuals.  It  is also used to determine financial stability or financial health of organizations. Accounting is the language of business and figures and is widely used as a means of communication for financial world, without it businesses cannot survive. It is important because