Accounting History: Definition and Relevance

Abstract

This work traces the history of accounting and how merchants developed a system of keeping record using what is known as the Bollac. The stages of development of accounting, from the Mesopotamia 3500 B.C to the 21st century accounting. This study also talked about the Father of Accounting – Luca Pacioli and his contributions in the development of double entry bookkeeping and finally the relevance of accounting history to today’s world.