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Egyptian civilization essays
The rise and fall of the Egyptian civilization
Ancient egyptian civilization essay
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During the Egyptian civilization period, the use of papyrus rather than clay tablets allowed detailed records to be made easily. Also, extensive records were kept, particularly for the network of royal storehouses. This was where the in kind tax payments were kept. The ancient Egyptian bookkeepers associated with each storehouse and kept meticulous records, which were checked by an extensive internal verification system. These early accountants were honest and accurate. This was because irregularities disclosed by royal audits were met with by fines, mutilation or the death penalty. Although such records were important, ancient Egyptian accounting methods and systems never progressed beyond simple task of list-making in its thousands of years …show more content…
From the east, the Aegean coast of Asia Minor was colonized first, followed by Cyprus and the coasts of Thrace, the Sea of Marmara and south coast of the Black Sea. Eventually Greek colonization reached as far northeast as present day Ukraine and Russia (Taganrog). At its economic height, in the 5th and 4th centuries BC, the Greek economy was the most advanced economy in the world. According to economic historians, the Greek economy was one of the most advanced preindustrial economies in ancient times (Diamantis, 2008). This was demonstrated by the average daily wage of the Greek worker which was, in terms of wheat, about 12 kg. It was more than 3 times the average daily wage of an Egyptian worker during the ancient period, about 3.75 kg. In ancient Greece used public accountants to give citizens the ability to maintain real authority and control over their government's finances. Members of the Athens Popular Assembly legislated on financial matters and controlled receipt and expenditure of public money through the oversight of 10 state accountants, chosen by lots. Perhaps the most important Greek contribution to accountancy was its introduction of coins about 600 B.C. Widespread use of coins took time this affected its impact on the evolution of accounting. Banking in ancient Greece appears to have been far more advanced than in prior societies. Bankers kept account books, …show more content…
During this era, Arabs in the Arabian peninsula especially in Makkah pursued a tribal life which was characterized by periods of war between the various tribes. In the year 622 A.D in Al-Madienah Al-Munaw'warah the principle of brotherhood was introduced. The principle of brotherhood required that all Muslims act as brothers with no regard to country of origin, race, language, colour, ethnic group or any other divisive hurdles. Muslims shunned revenge and were of great support to each other financially and socially. They did this regardless of their historical differences. They understood Islam as a comprehensive code for spiritual and material life. The Quran also offered guiding principles on social relations and commerce. Examples of commercial teachings are the rules of contract, finance, business, zakat and ethical rules for conducting business and writing contracts (Nigam, 1986). From the year 700 to 1200 Islam led the world in power, organization, and extent of government; in social refinements and standards of living; in literature, science, medicine, and philosophy. Muslim science can attribute to itself the preservation and development of Greek mathematics, physics, chemistry, astronomy, and medicine during this half millennium, while the West was plunging into what historians call the Dark Ages. The expansion in trade promoted the
Although, it can be argued that the merchants of Venice created modern finance, they cannot be credited with the initial idea of double-entry accounting. The roots of double-entry accounting and accounting as a whole, can be traced back much further. Centuries before the Venetian merchants began using double-entry accounting, other businessmen were accounting for their transactions with a method that used two pages of paper, one for the person who received money or property and another for the one who gave it. Although, accounting records had been kept in some form for hundreds of years prior to the developments of the Venetian merchants, the merchants of Venice are believed to be the first to use a method that required two entries for each transaction. By requiring two entries, the Venice merchants could easily see if their books balanced. This form of record keeping also made it easier for the merchants to compute different figures such as profit, which was not a common idea at the time....
The departure from previous expansionism (up to 1880) developed alongside the tremendous changes and amplifications of United States power (in government, economics, and military.) The growth in strength and size of the United States' navy gave the country many more opportunities to grow, explore, and expand both in size and money. The better range and build of ships allowed the U.S. to enter the far-east "trade and money" lands of the Philippines (eventually a territory) and China. Because of the huge production of agricultural goods and the need for outputs and markets for these goods, the United States needed to find other places for shipping, trading, buying, ...
Since imperial expansion was driving on commercial intersts, the territorial powers invested heavily in roads, bridges, utilities, ports, railroads, and dams. They also brought technological advancements such as electricity, telegraph, telephones to the colonies thus making it mor interconnected world markets.However, this also spreaded virulent diseases, destroyed environment and ecology, traditions and cultures.
As with all demand, supply came in the form of an increase in trade. This naturally lead to expanses navigation but more importantly shipbuilding. Advanced ships of that era meant longer distance sea travel which allow for additional markets offering new products. All of these factors led to a rapidly expanding network of trade routes.
Islam is a monotheistic and Abrahamic religion alongside Judaism and Christianity. It is currently the second largest religion in the world today. Its beliefs come from the Qur'an which literally means "the recitation" which is believed to be a literal transcription of the word of God. Its main prophet is named Muhammad who began Islam by speaking with the angel Gabriel in a cave during his meditation and then acting as an instrument of God to help write the Qur’an. Muhammad then spread Islam to the scattered tribes of Arabia by becoming the leader of Yathrib and using his wonderful leadership abilities to then grow his influence over virtually all of Arabia. Muhammad is known by Muslims to be the seal of the profits because no profits after Muhammad should be considered legitimate. Muhammad also left behind the Hadith or “tradition” which is a collection of writings compiled of reports of Muhammad’s actions as leader of Yathrib. These reports are used as a more specific code of ethics in day to day life and from these reports the 5 Pillars of Islam are derived (Smith 160). Although Islam shares many similarities to Judaism and Christianity it is often viewed in the US with hate derived from preconceived notions following the attack on September 11th 2001. This paper seeks to provide an overview of Islam’s history as well as its two major sects and 5 main pillars to remove preconceived notions and provide a glance into the minds of the Islamic people.
Prior to Islam, it was common for the nomadic tribes that inhabited the Arabian Peninsula to worship an extensive number of idols. Also, of these tribes had their own laws concerning marriage, hospitality, revenge etc. As tribes clashed, crimes were not always settled with the same punishments being the final outcome, as laws varied for each tribe (Dunn, 63). This uneven and inconsistent approach to justice caused tension to rise between the tribes, and more conflicts arose.
Lucas Pacioli was the first to describe a system of debts and credits in accord with journals and ledgers in 1494. These basics came together to be the concoction for what is known as accounting. Since the formal establishment of accounting in 1494, the field has expanded as the demands of the ever-changing economy became greater. The industrial revolution created the first jump in the field forcing the creation of sectors within. Since this first creation of sectors, accounting as a field has been creating more specific sects to accommodate a large variety of areas. The most common and large sects created this far include public and private accounting. Although both sects carry the same basis for their work, the variation between the two lies in their demographic, demands, and decoration.
Increased trade made a profitable and beneficial influence on the world through boosting the economy and furthering the cultural connections. Through agriculture and increased food production, and the influence of the colliding cultures, trade through the world increased significantly. This furthered cultural exchange as food, spices, and animals from different civilizations were introduced to each other. This increase in trade produced a bigger
Every idea has a start and a history that can be traced back in time. An incredible amount of these ideas and thoughts were started by great ancient civilizations. These ancient civilizations are the base of all modern knowledge. No ancient civilization has contributed more to this base than the civilization of Ancient Greece. The unique ways of ancient Greek agriculture have left a profound influence on the agriculture of today.
Luca Pacioli, the father of accounting, would be astonished. among other things at how the current accounting professional could not operate efficiently and effectively today without technology. Although the contemporary accounting professional has a broad understanding of the accounting process, it is the ever changing technological advances. Evolution of Accounting Technology Some of the earliest forms of writing were on clay tablets from the Middle East and date back to around 3000 B.C.E. After translation, some of these tablets were found to be records of taxes.
Accounting has been a living part of history since the Neolithic period and remains a prevalent and ever-evolving profession still to this day. This essay therefore proposes to look at the significance and role of history specifically related to the accountancy field. In order to substantiate this claim of the importance of accounting history, numerous benefits of accounting history will be presented. Factors such as the use of historical research and its availability thereof to constantly develop accounting policies will be discussed as well as how historical accounting practices can be used to understand current practice and assist in the training of individuals in the accounting field. Lastly, the importance of history in the development
In 1887, the American Association of Public Accountants was formed with the first standardized tests coming out about a decade later (Zeff, 2003, pg. 2). In 1896, New York State passed the first law for Certified Public Accountants (CPA), which Zeff (2003) “marked the beginning of an accredited profession of accounting in the United States” (pg 2). In Canada, the first association began in 1902 with the Dominion Association of Chartered Accountants (Buckstein, part 1 pg 2). Buckstein quoted John L. Carey, the author of a paper outlining the history of the accounting profession worldwide stated “the reason for creating a full-fledged professional organization was to distinguish skilled accountants of integrity from self-styled accountants whose competence had not been demonstrated” (pg. 2) As Zeff (2003) stated with the passage of the Securities Act of 1933 and the Securities Exchange Act of 1934 all publicly traded companies were now required to have their financials audited by independent CPA’s (pg. 4). This showcased the importance of having skilled and knowledgeable individuals produce verifiable and accurate information that the public (in all its forms) could rely upon. The combination of having professional accounting bodies and government legislations have attempted to establish
In this book , Esposito provides a succinct, up-to-date survey of the Islamic experience, an introduction to the faith, belief, and practice of Islam from its origins to its contemporary resurgence. He traces the emergence and development of this dynamic faith and its impact on world history and politics. He discusses the formation of Islamic belief and practice (law, theology, philosophy, and mysticism), chronicling the struggle of Muslims to define and adhere to their Islamic way of life. Equally important is the essential information Esposito provides on the contemporary world of Islam, from Muslim responses to the challenges of colonialism and modernization to the reassertion of Islam in politics and society.
In attempting to explain why double entry bookkeeping developed in fourteenth century Italy instead of ancient Greece or Rome, accounting scholar A.C. Littleton describes seven "key ingredients" which led to its creation. Those key ingredients consisting of private property, capital, commerce, credit, writing, money and arithmetic. Most of these did not exist in ancient times. This alone would not lead someone to create a complete and involved accounting system. Writing, for example, is as old as civilization itself, but arithmetic - the systematic manipulation of number symbols - was really not a tool possessed by the ancients. Fairly, the persistent use of roman numerals for financial transactions long after the introduction of Arabic numeration appears to have delayed the earlier creation of double-entry systems. However, the problems encountered by the ancients with record keeping, control and verification of financial transactions was not entirely different than our own today. Governments had strong incentives to keep careful records of receipts and disbursements -for the most part as concerns taxes. In any society where individuals accumulated wealth, there was a desire by the rich to perform audits on the honesty and skill of slaves and employees entrusted with asset management. But the lack of the above-listed antecedent to double entry bookkeeping made the job of an ancient accountant extraordinarily difficult. In societies where nearly all were illiterate, writing materials costly, numeration difficult and money systems inconsistent, a transaction had to be extremely important to justify keeping an accounting record.