Brief History of Accounting or Accountancy.

The history of accounting or accountancy is thousands of years old and can be traced to ancient civilizations.

The early development of accounting dates back to ancient Mesopotamia, and is closely related to developments in writing, counting and money and early auditing systems by the ancient Egyptians and Babylonians. By the time of the Emperor Augustus, the Roman government had access to detailed financial information.

According to some Indian scriptures, the Indian Chanakya wrote a manuscript similar to a financial management book, during the period of the Mauryan Empire. His book "Arthashasthra" contains few detailed aspects of maintaining books of accounts for a Sovereign State.

The Italian Luca Pacioli, recognized as The Father of accounting and bookeeping was the first person to publish a work on double-entry bookkeeping, and introduced the field in Europe. Accounting began to transition into an organized profession in the nineteenth century, with local professional bodies in England merging to form the Institute of Chartered Accountants in England and Wales in 1880.

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CENTRAL BANK OF NIGERIA (CBN) Deputy Gov Disowns Fake e-mail Address.

Disclaimer CBN Deputy Gov Disowns Fake e-mail Address CBN Deputy Gov Disowns Fake e-mail Address The attention of the Central Bank of Nigeria (CBN) has been drawn to the activities of fraudsters impersonating some principal officers of the Bank in an attempt to defraud unsuspecting members of the public. Of particular concern to the Bank is the recent message sent from an e-mail purportedly belonging to the Deputy Governor, Corporate Services, Mr. Edward Lametek Adamu, transacting a phony business deal. We wish to inform all members of the public, particularly members of the social media community that officials of the CBN do not communicate with emails outside the @cbn.gov.ng domain. No principal officer of the Bank will transact business or ask you to transact business with any other platform outside those ending with @cbn.gov.ng. The CBN also wishes to warn the public that it will not be liable for any financial transaction which may have transpired between people and sca...

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Outreach event on the principles of disclosure discussion paper in Hong Kong

On 5 September 2017, the Hong Kong Institute of CPAs and the IASB will host a joint outreach event in Hong Kong on the IASB discussion paper DP/2017/1 'Disclosure Initiative — Principles of Disclosure'. The event will cover main elements of the discussion paper , including: “what constitutes effective communication in the financial reports;” “what constitutes fair presentation of performance measures such as EBITDA;” “when, where and how financial information should be disclosed.” For more information, see the press release on the IASB’s website.

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New—and Important—Role for Professional Accountants in Assessing Human Rights Risk

When law firms are hiring specialists focusing on human rights as advisors to business, business at large must take note. Over the last few months, at a range of events, I have heard first hand from such new professional legal associates of the importance of horizon scanning and the how the landscape is changing in regard to corporate responsibility. Human rights and business is an emerging area that is set to accelerate and, as no any business can rest assured without further investigation that their full supply chain is “clean”, assessing and addressing potential risk in this area is clearly also a role for the professional accountant . In recent years, the operating environment for business has changed irreversibly. Companies will be increasingly called to account to show what they have done to prevent disasters like the 2013 Rana Plaza garment factory collapse in Bangladesh that cost over a thousand lives. It is not only the clothing industry that is affected by human rig...

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