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114-617: The school traces its roots back to the Garowe School of Management, a women's school in Garowe offering courses in accounting , computer skills, business English and business management. After a year of operation, which saw the graduation of 60 women, the school was expanded to a two-year structure and renamed to Puntland Community College. In 2004, in cooperation with the United Nations Development Program and USIU Nairobi, PCC

228-700: A double-entry bookkeeping system was the Summa de arithmetica , published in Italy in 1494 by Luca Pacioli (the "Father of Accounting"). 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. Both the words "accounting" and "accountancy" were in use in Great Britain by

342-489: A broad range of research areas including financial accounting , management accounting , auditing and taxation . Accounting research is carried out both by academic researchers and practicing accountants. Methodologies in academic accounting research include archival research, which examines "objective data collected from repositories "; experimental research, which examines data "the researcher gathered by administering treatments to subjects "; analytical research, which

456-458: A company may be legally required to have their financial statements audited by a qualified auditor, and audits are usually carried out by accounting firms . Accounting firms grew in the United States and Europe in the late nineteenth and early twentieth century, and through several mergers there were large international accounting firms by the mid-twentieth century. Further large mergers in

570-545: A few centuries prior to 3000 BC, while the end of the Iron Age varies from the early first millennium BC in some regions to the late first millennium AD in others. During the time period of ancient history, the world population was already exponentially increasing due to the Neolithic Revolution , which was in full progress. While in 10,000 BC, the world population stood at 2 million, it rose to 45 million by 3000 BC. By

684-475: A half millennia . It began with the incipient unification of Nile Valley polities around 3100 BC, traditionally under Menes . The civilisation of ancient Egypt was characterised primarily by intensive agricultural use of the fertile Nile Valley; the use of the Nile itself for transportation; the development of writing systems – first hieroglyphs and then later hieratic and other derived scripts – and literature ;

798-493: A large kingdom at three different times in history. These are called the Old (20th to 18th centuries BC), Middle (14th to 11th centuries BC), and Neo-Assyrian (9th to 7th centuries BC) kingdoms, or periods. Mitanni was a Hurrian empire in northern Mesopotamia founded around 1500 BC. The Mitanians conquered and controlled Assyria until the 14th century BC while contending with Egypt for control of parts of modern Syria. Its capital

912-575: A later emperor, Darius the Great , expanded the empire to the Indus River , creating the largest empire in the world to that date. But Darius and his son Xerxes I failed to expand into Greece , with expeditions in 490 and 480 BC eventually failing. The Achaemenid dynasty and empire fell to Alexander the Great by 330 BC, and after Alexander's death, much of the area previously ruled by the Cyrus and his successors

1026-447: A number of dynasties that peaked in power under the reign of Ashoka Maurya, one of India's most legendary and famous emperors. During the reign of Ashoka, the four dynasties of Chola , Chera , and Pandya were ruling in the South, while Devanampiya Tissa (250–210 BC) controlled Anuradhapura (now Sri Lanka ). These kingdoms, while not part of Ashoka's empire, were in friendly terms with

1140-450: A percentage of overall income). Forensic accounting is a specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation . " Forensic " means "suitable for use in a court of law", and it is to that standard and potential outcome that forensic accountants generally have to work. Political campaign accounting deals with the development and implementation of financial systems and

1254-514: A period often known as the Vedic period . Between 1500 and 500 BC these peoples spread throughout most of India and had begun to found small cities. Vedic society was characterized by the varna system which divided society into four broad castes, which were later elaborated. By the end of the Vedic period, this way of organizing society had become central to Indian society. Religion in the late Vedic period

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1368-433: A recent study based on academic author rankings concludes that the competitive value of a single publication in a top-ranked journal is highest in accounting and lowest in marketing. The year 2001 witnessed a series of financial information frauds involving Enron , auditing firm Arthur Andersen , the telecommunications company WorldCom , Qwest and Sunbeam , among other well-known corporations. These problems highlighted

1482-399: A result of the first admissions of fraudulent behavior made by Enron. The act significantly raises criminal penalties for securities fraud , for destroying, altering or fabricating records in federal investigations or any scheme or attempt to defraud shareholders. Accounting fraud is an intentional misstatement or omission in the accounting records by management or employees which involves

1596-639: A single professional accounting body and, in some other countries, professional bodies for subfields of the accounting professions also exist, for example the Chartered Institute of Management Accountants (CIMA) in the UK and Institute of management accountants in the United States. Many of these professional bodies offer education and training including qualification and administration for various accounting designations, such as certified public accountant ( AICPA ) and chartered accountant . Depending on its size,

1710-456: A tradition of bronze production and the manufacture of evermore refined bronze and iron objects, such as plows, axes and sickles with shaft holes, socketed arrows and spearheads and small ornamented items. By about 500 BCE, large and delicately decorated bronze drums of remarkable quality, weighing more than 70 kg (150 lb), were produced in the laborious lost-wax casting process. This industry of highly sophisticated metal processing

1824-883: Is "based on the act of formally modeling theories or substantiating ideas in mathematical terms"; interpretive research, which emphasizes the role of language, interpretation and understanding in accounting practice, "highlighting the symbolic structures and taken-for-granted themes which pattern the world in distinct ways"; critical research, which emphasizes the role of power and conflict in accounting practice; case studies ; computer simulation ; and field research . Empirical studies document that leading accounting journals publish in total fewer research articles than comparable journals in economics and other business disciplines, and consequently, accounting scholars are relatively less successful in academic publishing than their business school peers. Due to different publication rates between accounting and other business disciplines,

1938-523: Is Harappan, after the first of its cities to be excavated, Harappa in the Pakistani province of Punjab . Harappan civilization grew out of the earlier agricultural communities as they evolved into cities. These communities created and traded jewelry, figurines, and seals that appear widely scattered throughout Mesopotamia, Afghanistan, and Iran. Chickens were domesticated in addition to the earlier crops and animals. They developed their own writing system,

2052-458: Is a part of an organization's information system used for processing accounting data. Many corporations use artificial intelligence-based information systems. The banking and finance industry uses AI in fraud detection. The retail industry uses AI for customer services. AI is also used in the cybersecurity industry. It involves computer hardware and software systems using statistics and modeling. Many accounting practices have been simplified with

2166-538: Is closely related to developments in writing , counting and money ; there is also evidence of early forms of bookkeeping in ancient Iran , and early auditing systems by the ancient Egyptians and Babylonians . By the time of Emperor Augustus , the Roman government had access to detailed financial information. Many concepts related to today's accounting seem to be initiated in medieval's Middle East. For example, Jewish communities used double-entry bookkeeping in

2280-573: Is derived from the French word compter , which is also derived from the Italian and Latin word computare . The word was formerly written in English as "accomptant", but in process of time the word, which was always pronounced by dropping the "p", became gradually changed both in pronunciation and in orthography to its present form. Accounting has variously been defined as the keeping or preparation of

2394-582: Is divided into the Paleolithic (earliest), Mesolithic , and Neolithic . The early human migrations in the Lower Paleolithic saw Homo erectus spread across Eurasia 1.8 million years ago. Evidence for the use of fire has been dated as early as 1.8 million years ago, a date which is contested, with generally accepted evidence for the controlled use of fire dating to 780,000 years ago. Actual use of hearths first appears 400,000 years ago. Dates for

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2508-443: Is the largest global accountancy body with over 320,000 members, and the organisation provides an 'IFRS stream' and a 'UK stream'. Students must pass a total of 14 exams, which are arranged across three levels. Accounting research is research in the effects of economic events on the process of accounting, the effects of reported information on economic events, and the roles of accounting in organizations and society. It encompasses

2622-450: Is transacted between companies with a common parent company (subsidiaries). Auditing is the verification of assertions made by others regarding a payoff, and in the context of accounting it is the " unbiased examination and evaluation of the financial statements of an organization". Audit is a professional service that is systematic and conventional. An audit of financial statements aims to express or disclaim an independent opinion on

2736-437: Is usually attributed to the Italian mathematician and Franciscan friar Luca Pacioli . Today, accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies . Financial statements are usually audited by accounting firms, and are prepared in accordance with generally accepted accounting principles (GAAP). GAAP is set by various standard-setting organizations such as

2850-514: Is yet to be confirmed with extensive survey work. With the help of archaeological excavations mainly by Susan and Roderick McIntosh , the site is known to have been occupied from 250 BC to AD 900. The city is believed to have been abandoned and moved where the current city is located due to the spread of Islam and the building of the Great Mosque of Djenné . Previously, it was assumed that advanced trade networks and complex societies did not exist in

2964-550: The American Institute of CPA's (AICPA) 150 semester hour requirement, and associate membership with the Certified Public Accountants Association of the UK is available after gaining a degree in finance or accounting. A doctorate is required in order to pursue a career in accounting academia , for example, to work as a university professor in accounting. The Doctor of Philosophy (PhD) and

3078-555: The Chaldeans in 614 BC. The Achaemenid Empire was founded by Cyrus the Great , who first became king of the Persians, then conquered the Medes, Lydia , and Babylon by 539 BC. The empire built on earlier Mesopotamian systems of government to govern their large empire. By building roads, they improved both the ability to send governmental instructions throughout their lands as well as improving

3192-747: The Congo River and into the Great Lakes area. By AD 1000 these groups had spread throughout all of southern Africa south of the equator. Iron metallurgy and agriculture spread along with these peoples, with the cultivation of millet, oil palms, sorghum, and yams as well as the use of domesticated cattle, pigs, and sheep. These technologies helped increase population, and settled communities became common in sub-Saharan Africa except in deserts or heavy forests. Paleolithic tools have been discovered in India dating to 200,000 years ago, and Neolithic sites are known from near

3306-612: The Doctor of Business Administration (DBA) are the most popular degrees. The PhD is the most common degree for those wishing to pursue a career in academia, while DBA programs generally focus on equipping business executives for business or public careers requiring research skills and qualifications. Professional accounting qualifications include the chartered accountant designations and other qualifications including certificates and diplomas. In Scotland, chartered accountants of ICAS undergo Continuous Professional Development and abide by

3420-723: The Financial Accounting Standards Board (FASB) in the United States and the Financial Reporting Council in the United Kingdom . As of 2012, "all major economies" have plans to converge towards or adopt the International Financial Reporting Standards (IFRS). Accounting is thousands of years old and can be traced to ancient civilizations . One early development of accounting dates back to ancient Mesopotamia and

3534-658: The Indus Valley dating to around 8000 BC. Agriculture began in the Indus Valley around 7000 BC, and reached the Ganges Valley by 3000 BC. Barley , cotton , and wheat were grown and the population had domesticated cattle, goats, and sheep. The Indus Valley Civilisation developed around 3000 BC in the Indus and Ghaggar-Hakra river valleys of eastern Afghanistan , Pakistan, and western India. Another name for this civilisation

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3648-490: The Indus Valley script , which is still mostly undeciphered. The exact structure of society and the way the cities were governed is not known. By about 1600 BC, the Indus Valley culture had abandoned many of their cities, including Mohenjo-Daro . The exact reason for this decline is not known. Indo-European speaking peoples began to spread into India about 1500 BC. The Rigveda , in Sanskrit , dates to this period and begins

3762-530: The International Accounting Standards Board (IASB) issues the International Financial Reporting Standards (IFRS) implemented by 147 countries. Standards for international audit and assurance, ethics, education, and public sector accounting are all set by independent standard settings boards supported by IFAC. The International Auditing and Assurance Standards Board sets international standards for auditing, assurance, and quality control;

3876-677: The International Ethics Standards Board for Accountants (IESBA) sets the internationally appropriate principles-based Code of Ethics for Professional Accountants ; the International Accounting Education Standards Board (IAESB) sets professional accounting education standards; and International Public Sector Accounting Standards Board (IPSASB) sets accrual-based international public sector accounting standards. Organizations in individual countries may issue accounting standards unique to

3990-575: The Maccabean revolt led to independence during Hellenistic period until Roman conquest . Phoenicia was an ancient civilisation centered in the north of ancient Canaan , with its heartland along the coastal regions of modern-day Lebanon , Syria and Israel. Phoenician civilisation was an enterprising maritime trading culture that spread across the Mediterranean between the period of 1550 to 300 BC. One Phoenician colony, Carthage , ruled an empire in

4104-766: The Maritime Jade Road , a jade trade network, in Southeast Asia which existed in Taiwan and the Philippines for 3,000 years from 2000 BCE to 1000 CE. The trade was established by links between the indigenous peoples of Taiwan and the Philippines, and later included parts of Vietnam, Malaysia, Indonesia, Thailand, and other areas in Southeast Asia (known as the Sa Huynh - Kalanay Interaction Sphere). Lingling-o artifacts are one of

4218-583: The Maurya Empire . An alliance existed between Devanampiya Tissa and Ashoka of India, who sent Buddhist missionaries to Sri Lanka. Most of North India was reunited under the Gupta Empire beginning under Chandragupta I around AD 320. Under his successors the empire spread to include much of India except for the Deccan Plateau and the very south of the peninsula. This was a period of relative peace, and

4332-739: The Nile Delta in the north, as far south as Jebel Barkal at the Fourth Cataract of the Nile. Extensions to the geographical range of ancient Egyptian civilisation included, at different times, areas of the southern Levant , the Eastern Desert and the Red Sea coastline, the Sinai Peninsula , and the Western Desert (focused on the several oases ). Ancient Egypt developed over at least three and

4446-661: The Old Kingdom , which saw pyramid building on a large scale. After 2100 BC, the Old Kingdom dissolved into smaller states during the First Intermediate Period , which lasted about 100 years. The Middle Kingdom began around 2000 BC with the reunification of Egypt under pharoes ruling from Thebes . The Middle Kingdom ended with the conquest of northern Egypt by the Hyksos around 1650 BC. The Hyksos were expelled from Egypt and

4560-787: The Pitcairns , the Kermadec Islands , and the Norfolk Islands were also formerly settled by Austronesians but later abandoned. There is also putative evidence, based in the spread of the sweet potato , that Austronesians may have reached South America from Polynesia, where they might have traded with the Indigenous peoples of the Americas . Austronesians established prehistoric maritime trade networks in Island Southeast Asia, including

4674-812: The Seleucid Empire . Parthia had many wars with the Romans, but it was rebellions within the empire that ended it in the 3rd century AD. The Sasanian Empire began when the Parthian Empire ended in AD 224. Their rulers claimed the Achaemenids as ancestors and set up their capital at Ctesiphon in Mesopotamia. Their period of greatest military expansion occurred under Shapur I , who by the time of his death in AD 272 had defeated Roman imperial armies and set up buffer states between

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4788-473: The United States . This Somalia university, college or other education institution article is a stub . You can help Misplaced Pages by expanding it . Accounting This is an accepted version of this page Accounting , also known as accountancy , is the process of recording and processing information about economic entities , such as businesses and corporations . Accounting measures

4902-491: The Zapotec civilization . The ancient Near East is considered the cradle of civilization . It was the first to practice intensive year-round agriculture; created one of the first coherent writing systems , invented the potter's wheel and then the vehicular wheel , created the first centralized governments , law codes and empires, as well as displaying social stratification , slavery, and organized warfare. It began

5016-539: The Americas about 15,000 years ago. Evidence for agriculture emerges in about 9000 BC in what is now eastern Turkey and spread through the Fertile Crescent . Settlement at Göbekli Tepe began around 9500 BC and may have the world's oldest temple. The Nile River Valley has evidence of sorghum and millet cultivation starting around 8000 BC and agricultural use of yams in Western Africa perhaps dates to

5130-563: The Assyrians, who conquered Israel in 722 BC. The Neo-Babylonian Empire did the same to Judah in 586. After both conquests, the conquering forces deported many of the inhabitants to other regions of their respective empires. Following the fall of Babylon to the Persian Empire, Cyrus the Great allowed the rebuilding of the temple at Jerusalem , and some of the exiles from Judah returned to Judea , where they remained under Persian rule until

5244-628: The Egyptians as a possible challenge to their hegemony , but an ethnic group rather than an organised state. Israel had emerged by the middle of the 9th century BC, when the Assyrian King Shalmaneser III named " Ahab the Israelite" among his enemies at the battle of Qarqar (853). Judah emerged somewhat later than Israel, probably during the 9th century BC, but the subject is one of considerable controversy. Israel came into conflict with

5358-510: The Fertile Crescent, alongside the first evidence for agriculture. Other animals, such as pigs and poultry , were later domesticated and used as food sources. Cattle and water buffalo were domesticated around 7000 BC and horses , donkeys , and camels were domesticated by about 4000 BC. All of these animals were used not only for food, but to carry and pull people and loads, greatly increasing human ability to do work. The invention of

5472-596: The Gupta rulers generally left administration in local rulers. The Gupta Empire was weakened and ultimately ruined by the raids of Hunas (a branch of the Hephthalites emanating from Central Asia), and the empire broke up into smaller regional kingdoms by the end of the fifth century AD. India would remain fragmented into smaller states until the rise of the Mughal Empire in the 1500s. The Neolithic period of Southeast Asia

5586-736: The ICAS code of ethics. In England and Wales, chartered accountants of the ICAEW undergo annual training, and are bound by the ICAEW's code of ethics and subject to its disciplinary procedures. In the United States , the requirements for joining the AICPA as a Certified Public Accountant are set by the Board of Accountancy of each state , and members agree to abide by the AICPA's Code of Professional Conduct and Bylaws. The ACCA

5700-424: The IFRS. At least a bachelor's degree in accounting or a related field is required for most accountant and auditor job positions , and some employers prefer applicants with a master's degree . A degree in accounting may also be required for, or may be used to fulfill the requirements for, membership to professional accounting bodies. For example, the education during an accounting degree can be used to fulfill

5814-413: The Iron Age in 1000 BC, the population had risen to 72 million. By the end of the ancient period in AD 500, the world population is thought to have stood at 209 million. In 10,500 years, the world population increased by 100 times. Prehistory is the period before written history. Most of our knowledge of that period comes from the work of archaeologists. Prehistory is often known as the Stone Age , and

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5928-543: The Malayan-Indonesian " thalassian " zone shared these characteristics with Indochinese polities like the Pyu city-states in the Irrawaddy River valley, the Văn Lang kingdom in the Red River Delta and Funan around the lower Mekong . Văn Lang, founded in the 7th century BCE, endured until 258 BCE under the Hồng Bàng dynasty , as part of the Đông Sơn culture that sustained a dense and organised population that produced an elaborate Bronze Age industry. Intensive wet-rice cultivation in an ideal climate enabled

6042-399: The Middle East. Egypt developed its own system of hieroglyphs by about 3200 BC. By 2800 BC the Indus Valley Civilization had developed its Indus script , which remains undeciphered. Chinese Characters were independently developed in China during the Shang dynasty in the form of the Oracle Bone Script dating to the period 1600 to 1100 BC. Writing in Mesoamerica dates to 600 BC with

6156-408: The Nubians had created a new kingdom further south, known as the Kingdom of Kush , centred on the upper Nile with a capital at Kerma . In the Egyptian New Kingdom period, Kush once more was conquered by Egypt. However, by 1100 BC a new kingdom of Kush had formed, with a capital at Napata . Nubian rulers conquered Egypt around 760 BC and retained control for about a century. The Kingdom of Aksum

6270-472: The Pacific Islands to successfully retain rice cultivation. Palau and Yap were settled by separate voyages by 1000 BCE. Another important migration branch was by the Lapita culture , which rapidly spread into the islands off the coast of northern New Guinea and into the Solomon Islands and other parts of coastal New Guinea and Island Melanesia by 1200 BCE. They reached the islands of Fiji , Samoa , and Tonga by around 900 to 800 BCE. This remained

6384-401: The Sasanians and Roman Empires. After Shapur, the Sasanians were under more pressure from the Kushans to their east as well as the Roman then Byzantine Empire to its west. However, the Sasanians rebuilt and founded numerous cities and their merchants traveled widely and introduced crops such as sugar, rice, and cotton into the Iranian plateau. But in AD 651, the last Sassanid emperor was killed by

6498-660: The United States concentrates on the preparation, analysis and presentation of tax payments and tax returns. The U.S. tax system requires the use of specialised accounting principles for tax purposes which can differ from the generally accepted accounting principles (GAAP) for financial reporting. U.S. tax law covers four basic forms of business ownership: sole proprietorship , partnership , corporation , and limited liability company . Corporate and personal income are taxed at different rates, both varying according to income levels and including varying marginal rates (taxed on each additional dollar of income) and average rates (set as

6612-411: The Western Mediterranean until being defeated by Rome in the Punic Wars . The Phoenicians invented the Phoenician alphabet , the forerunner of the modern alphabet still in use today. The history of Pre-Islamic Arabia before the rise of Islam in the AD 630s is not known in great detail. Archaeological exploration in the Arabian Peninsula has been sparse; indigenous written sources are limited to

6726-492: The ability of their military forces to be deployed rapidly. Increased trade and upgraded farming techniques increased wealth, but also exacerbated inequalities between social classes. The empire's location at the centre of trading networks spread its intellectual and philosophical ideas throughout a wide area, and its religion, while not itself spreading far, had an impact on later religions such as Christianity , Islam , and Judaism . Cyrus' son Cambyses II conquered Egypt, while

6840-746: The accounting of financial transactions in compliance with laws governing political campaign operations. This branch of accounting was first formally introduced in the March 1976 issue of The Journal of Accountancy . Professional accounting bodies include the American Institute of Certified Public Accountants (AICPA) and the other 179 members of the International Federation of Accountants (IFAC), including Institute of Chartered Accountants of Scotland (ICAS), Institute of Chartered Accountants of Pakistan (ICAP) , CPA Australia , Institute of Chartered Accountants of India , Association of Chartered Certified Accountants (ACCA) and Institute of Chartered Accountants in England and Wales (ICAEW). Some countries have

6954-433: The archipelago of the Philippines , intermingling with the earlier Australo-Melanesian population who had inhabited the islands since about 23,000 years earlier. Over the next thousand years, Austronesian peoples migrated southeast to the rest of the Philippines, and into the islands of the Celebes Sea and Borneo. From southwestern Borneo, Austronesians spread further west in a single migration event to both Sumatra and

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7068-406: The capital of the Akkadian Empire. Despite an extensive search, the precise site has never been found. Akkad reached the height of its power between about 2330 and 2150 BC, following the conquests of King Sargon of Akkad . Through the spread of Sargon's empire, the language of Akkad, known as Akkadian from the city, spread and replaced the Sumerian language in Mesopotamia and eventually by 1450 BC

7182-407: The casting of iron with molds and then hammering it which enabled weapons and tools to be made stronger and also cheaper. Although chariots had been used previously, the use of spoked wheels allowed the chariots to be much lighter and more maneuverable. In 1274 BC the Hittites clashed with the Egyptians at the Battle of Kadesh , where both sides claimed victory. In 1207 the Hittite capital of Hattusa

7296-423: The coastal regions of southern Vietnam, becoming the ancestors of the speakers of the Malayic and Chamic branches of the Austronesian language family. Soon after reaching the Philippines, Austronesians colonized the Northern Mariana Islands by 1500 BCE or even earlier, becoming the first humans to reach Remote Oceania . The Chamorro migration was also unique in that it was the only Austronesian migration to

7410-497: The countries. For example, in Australia, the Australian Accounting Standards Board manages the issuance of the accounting standards in line with IFRS. In the United States the Financial Accounting Standards Board (FASB) issues the Statements of Financial Accounting Standards, which form the basis of US GAAP , and in the United Kingdom the Financial Reporting Council (FRC) sets accounting standards. However, as of 2012 "all major economies" have plans to converge towards or adopt

7524-424: The development of new regulations to improve the reliability of financial reporting, and increased public awareness about the importance of having accounting standards that show the financial reality of companies and the objectivity and independence of auditing firms. In addition to being the largest bankruptcy reorganization in American history, the Enron scandal undoubtedly is the biggest audit failure causing

7638-401: The dissolution of Arthur Andersen , which at the time was one of the five largest accounting firms in the world. After a series of revelations involving irregular accounting procedures conducted throughout the 1990s, Enron filed for Chapter 11 bankruptcy protection in December 2001. One consequence of these events was the passage of the Sarbanes–Oxley Act in the United States in 2002, as

7752-516: The early-medieval period and Muslim societies, at least since the 10th century also used many modern accounting concepts. The spread of the use of Arabic numerals , instead of the Roman numbers historically used in Europe, increased efficiency of accounting procedures among Mediterranean merchants, who further refined accounting in medieval Europe . With the development of joint-stock companies , accounting split into financial accounting and management accounting . The first published work on

7866-445: The emergence of Homo sapiens (modern humans) range from 250,000 to 160,000 years ago, with the varying dates being based on DNA studies and fossils respectively. Some 50,000 years ago, Homo sapiens migrated out of Africa . They reached Australia about 45,000 years ago, southwestern Europe about the same time, southeastern Europe and Siberia around 40,000 years ago, and Japan about 30,000 years ago. Humans migrated to

7980-484: The empire was Aksum , now in northern Ethiopia. The Nok culture appeared in Nigeria around 1000 BC and mysteriously vanished around AD 200. The civilisation's social system is thought to have been highly advanced. The Nok civilisation was considered to be the earliest sub-Saharan producer of life-sized Terracotta which have been discovered by archaeologists. The Nok also used iron smelting that may have been independently developed. The civilisation of Djenné-Djenno

8094-438: The entire territory. Among large, thin-walled terracotta jars, ornamented and colorized cooking pots, glass items, jade earrings and metal objects were deposited near the rivers and along the coast. Around 3000 to 1500 BCE, a large-scale migration of Austronesians , known as the Austronesian expansion began from Taiwan . Population growth primarily fueled this migration. These first settlers settled in northern Luzon , in

8208-486: The expanding Islamic Arabs. The Hittites first came to Anatolia about 1900 BC and during the period 1600-1500 they expanded into Mesopotamia where they adopted the cuneiform script to their Indo-European language. By 1200 their empire stretched to Phoenicia and eastern Anatolia . They improved two earlier technologies from Mesopotamia and spread these new techniques widely – improved iron working and light chariots with spoked wheels in warfare. The Hittites introduced

8322-515: The farming communities to produce a regular crop surplus that was used by the ruling elite to raise, command and pay work forces for public construction and maintenance projects such as canals and fortifications. The earliest known evidence of copper and bronze production in Southeast Asia was found at Ban Chiang in north-east Thailand and among the Phùng Nguyên culture of northern Vietnam around 2000 BCE. The Đông Sơn culture established

8436-599: The financial records of transactions of the firm, the analysis, verification and reporting of such records and "the principles and procedures of accounting"; it also refers to the job of being an accountant . Accountancy refers to the occupation or profession of an accountant, particularly in British English . Accounting has several subfields or subject areas, including financial accounting , management accounting , auditing , taxation and accounting information systems . Financial accounting focuses on

8550-499: The financial statements. The auditor expresses an independent opinion on the fairness with which the financial statements presents the financial position, results of operations, and cash flows of an entity, in accordance with the generally accepted accounting principles (GAAP) and "in all material respects". An auditor is also required to identify circumstances in which the generally accepted accounting principles (GAAP) have not been consistently observed. An accounting information system

8664-503: The financials may be presented in financial reports, is known as bookkeeping , of which double-entry bookkeeping is the most common system. Accounting information systems are designed to support accounting functions and related activities. Accounting has existed in various forms and levels of sophistication throughout human history. The double-entry accounting system in use today was developed in medieval Europe, particularly in Venice , and

8778-725: The furthest extent of the Austronesian expansion into Polynesia until around 700 CE, when there was another surge of island colonization. It reached the Cook Islands , Tahiti , and the Marquesas by 700 CE; Hawaii by 900 CE; Rapa Nui by 1000 CE; and New Zealand by 1200 CE. For a few centuries, the Polynesian islands were connected by bidirectional long-distance sailing, with the exception of Rapa Nui, which had limited further contact due to its isolated geographical location. Island groups like

8892-839: The goals of an organization. In management accounting, internal measures and reports are based on cost–benefit analysis , and are not required to follow the generally accepted accounting principle (GAAP). In 2014 CIMA created the Global Management Accounting Principles (GMAPs) . The result of research from across 20 countries in five continents, the principles aim to guide best practice in the discipline. Management accounting produces past-oriented reports with time spans that vary widely, but it also encompasses future-oriented reports such as budgets . Management accounting reports often include financial and non financial information, and may, for example, focus on specific products and departments. Intercompany accounting focuses on

9006-546: The help of accounting computer-based software . An enterprise resource planning (ERP) system is commonly used for a large organisation and it provides a comprehensive, centralized, integrated source of information that companies can use to manage all major business processes, from purchasing to manufacturing to human resources. These systems can be cloud based and available on demand via application or browser, or available as software installed on specific computers or local servers, often referred to as on-premise. Tax accounting in

9120-545: The land was reunited in the New Kingdom around 1550 BC. This period lasted until about 1000 BC, and saw Egypt expand its borders into Palestine and Syria. The Third Intermediate Period was marked by the rule of priests as well as the conquest of Egypt by Nubian kings and then later Assyria, Persia, and Macedonians. The Ta-Seti kingdom in Nubia to the south of Egypt was conquered by Egyptian rulers around 3100 BC, but by 2500 BC

9234-575: The late twentieth century led to the dominance of the auditing market by the "Big Five" accounting firms: Arthur Andersen , Deloitte , Ernst & Young , KPMG and PricewaterhouseCoopers . The demise of Arthur Andersen following the Enron scandal reduced the Big Five to the Big Four . Generally accepted accounting principles (GAAP) are accounting standards issued by national regulatory bodies. In addition,

9348-463: The many inscriptions and coins from southern Arabia. Existing material consists primarily of written sources from other traditions (such as Egyptians, Greeks, Persians, Romans, etc.) and oral traditions later recorded by Islamic scholars. A number of small kingdoms existed in Arabia from around AD 100 to perhaps about AD 400. Carthage was founded around 814 BC by Phoenician settlers. Ancient Carthage

9462-404: The measurement, analysis and reporting of information between separate entities that are related, such as a parent company and its subsidiary companies. Intercompany accounting concerns record keeping of transactions between companies that have common ownership such as a parent company and a partially or wholly owned subsidiary. Intercompany transactions are also recorded in accounting when business

9576-663: The mid-1800s and are derived from the words accompting and accountantship used in the 18th century. In Middle English (used roughly between the 12th and the late 15th century), the verb "to account" had the form accounten , which was derived from the Old French word aconter , which is in turn related to the Vulgar Latin word computare , meaning "to reckon". The base of computare is putare , which "variously meant to prune, to purify, to correct an account, hence, to count or calculate, as well as to think". The word " accountant "

9690-423: The need to review the effectiveness of accounting standards , auditing regulations and corporate governance principles. In some cases, management manipulated the figures shown in financial reports to indicate a better economic performance. In others, tax and regulatory incentives encouraged over-leveraging of companies and decisions to bear extraordinary and unjustified risk. The Enron scandal deeply influenced

9804-419: The needs of decision-makers. Financial accounting produces past-oriented reports—for example financial statements are often published six to ten months after the end of the accounting period—on an annual or quarterly basis, generally about the organization as a whole. Management accounting focuses on the measurement, analysis and reporting of information that can help managers in making decisions to fulfill

9918-442: The organisation of collective projects such as the pyramids ; trade with surrounding regions; and a polytheistic religious tradition that included elaborate funeral customs including mummification . Overseeing these activities were a socio-political and economic elite under the figure of a (semi)-divine ruler from a succession of ruling dynasties . Ancient Egyptian history is divided across various periods, beginning with

10032-619: The period 3000 BC – AD 500, ending with the expansion of Islam in late antiquity. The three-age system periodizes ancient history into the Stone Age , the Bronze Age , and the Iron Age , with recorded history generally considered to begin with the Bronze Age. The start and end of the three ages vary between world regions. In many regions the Bronze Age is generally considered to begin

10146-472: The population to settle in one place instead of migrating after crops and herds. It also allowed for a much greater population density, and in turn required an extensive labour force and division of labour. This organization led to the necessity of record keeping and the development of writing. Babylonia was an Amorite state in lower Mesopotamia (modern southern Iraq ), with Babylon as its capital. Babylonia emerged when Hammurabi created an empire out of

10260-554: The region in the former savannah of the Sahara. Its inhabitants fished and grew millet. It has been found that the Soninke of the Mandé peoples were responsible for constructing such settlements. Around 300 BC, the region became more desiccated and the settlements began to decline, most likely relocating to Koumbi Saleh. From the type of architecture and pottery, it is believed that Tichit was related to

10374-618: The region until the arrival of traders from Southwest Asia . However, sites such as Djenné-Djenno disprove this, as these traditions in West Africa flourished long before. Towns similar to that at Djenne-Jeno also developed at the site of Dia, also in Mali along the Niger River , from around 900 BC. Dhar Tichitt and Oualata were prominent among the early urban centres, dated to 2000 BC, in present-day Mauritania. About 500 stone settlements littered

10488-444: The reporting of an organization's financial information to external users of the information, such as investors, potential investors and creditors. It calculates and records business transactions and prepares financial statements for the external users in accordance with generally accepted accounting principles (GAAP). GAAP, in turn, arises from the wide agreement between accounting theory and practice, and changes over time to meet

10602-415: The reporting of an organization's financial information, including the preparation of financial statements , to the external users of the information, such as investors, regulators and suppliers . Management accounting focuses on the measurement, analysis and reporting of information for internal use by management to enhance business operations. The recording of financial transactions, so that summaries of

10716-500: The results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors , creditors , management , and regulators . Practitioners of accounting are known as accountants . The terms "accounting" and " financial reporting " are often used interchangeably. Accounting can be divided into several fields including financial accounting , management accounting , tax accounting and cost accounting . Financial accounting focuses on

10830-572: The same time period. Cultivation of millet, rice , and legumes began around 7000 BC in China . Taro cultivation in New Guinea dates to about 7000 BC also with squash cultivation in Mesoamerica perhaps sharing that date. Animal domestication began with the domestication of dogs , which dates to at least 15,000 years ago, and perhaps even earlier. Sheep and goats were domesticated around 9000 BC in

10944-465: The simple plough by 6000 BC further increased agricultural efficiency. Metal use in the form of hammered copper items predates the discovery of smelting of copper ores , which happened around 6000 BC in western Asia and independently in eastern Asia before 2000 BC. Gold and silver use dates to between 6000 and 5000 BC. Alloy metallurgy began with bronze in about 3500 BC in Mesopotamia and

11058-718: The study of the stars and the sciences of astronomy and mathematics. Mesopotamia is the site of some of the earliest known civilisations in the world. Agricultural communities emerged in the area with the Halaf culture around 8000 BC and continued to expand through the Ubaid period around 6000 BC. Cities began in the Uruk period (4000–3100 BC) and expanded during the Jemdet Nasr (3100–2900 BC) and Early Dynastic (2900–2350 BC) periods. The surplus of storable foodstuffs created by this economy allowed

11172-439: The subsequent Ghana Empire. Old Jenne (Djenne) began to be settled around 300 BC, producing iron and with sizeable population, evidenced in crowded cemeteries. The inhabitants and creators of these settlements during these periods are thought to have been ancestors of the Soninke people. Peoples speaking precursors to the modern-day Bantu languages began to spread throughout southern Africa, and by 2000 BC they were expanding past

11286-517: The territories of the former kingdoms of Sumer and Akkad . The Neo-Babylonian Empire , or Chaldea , was Babylonia from the 7th and 6th centuries BC. Under the reign of Nebuchadnezzar II , it conquered Jerusalem . This empire also created the Hanging Gardens of Babylon and the still-surviving Ishtar Gate as architectural embellishments of its capital at Babylon. Akkad was a city and its surrounding region near Babylon. Akkad also became

11400-479: The tort of negligence . The primary responsibility for the prevention and detection of fraud and errors rests with the entity's management. Ancient history Ancient history is a time period from the beginning of writing and recorded human history through late antiquity . The span of recorded history is roughly 5,000 years, beginning with the development of Sumerian cuneiform script. Ancient history covers all continents inhabited by humans in

11514-416: The use of deception. It is a criminal act and a breach of civil tort. It may involve collusion with third parties. An accounting error is an unintentional misstatement or omission in the accounting records, for example misinterpretation of facts, mistakes in processing data, or oversights leading to incorrect estimates. Acts leading to accounting errors are not criminal but may breach civil law, for example,

11628-526: Was Washukanni , whose precise location has not been determined by archaeologists. The Medes and Persians were peoples who had appeared in the Iranian plateau around 1500 BC. Both peoples spoke Indo-European languages and were mostly pastoralists with a tradition of horse archery. The Medes established their own Median Empire by the 6th century BC, having defeated the Neo-Assyrian Empire with

11742-522: Was a city-state that ruled an empire through alliances and trade influence that stretched throughout North Africa and modern Spain . At the height of the city's influence, its empire included most of the western Mediterranean. The empire was in a constant state of struggle with the Roman Republic , which led to a series of conflicts known as the Punic Wars . After the third and final Punic War , Carthage

11856-487: Was an important trading nation in northeastern Africa centered in present-day Eritrea and northern Ethiopia , it existed from approximately AD 100 to 940, growing from the Iron Age proto-Aksumite period around the 4th century BC to achieve prominence by the 1st century AD. The Kingdom of Aksum at its height by the early 6th-century AD extended through much of modern Ethiopia and across the Red Sea to Arabia. The capital city of

11970-445: Was characterized by several migrations into Mainland and Island Southeast Asia from southern China by Austronesian , Austroasiatic , Kra-Dai and Hmong-Mien -speakers. Territorial principalities in both Insular and Mainland Southeast Asia, characterized as "agrarian kingdoms", developed an economy by around 500 BCE based on surplus crop cultivation and moderate coastal trade of domestic natural products. Several states of

12084-529: Was destroyed and then occupied by Roman forces. Nearly all of the territory held by Carthage fell into Roman hands. Ancient Egypt was a long-lived civilisation geographically located in north-eastern Africa. It was concentrated along the middle to lower reaches of the Nile River, reaching its greatest extent during the 2nd millennium BC, which is referred to as the New Kingdom period. It reached broadly from

12198-455: Was developed independent of Chinese or Indian influence. Historians relate these achievements to the presence of organized, centralized and hierarchical communities and a large population. Between 1000 BCE and 100 CE, the Sa Huỳnh culture flourished along the south-central coast of Vietnam . Ceramic jar burial sites that included grave goods have been discovered at various sites along

12312-758: Was developed independently in China by 2000 BC. Pottery developed independently throughout the world, with fired pots appearing first among the Jomon of Japan and in West Africa at Mali . Sometime between 5000 and 4000 BC the potter's wheel was invented. By 3000 BC, the pottery wheel was adapted into wheeled vehicles which could be used to carry loads further and easier than with human or animal power alone. Writing developed separately in five different locations in human history: Mesopotamia, Egypt, India, China, and Mesoamerica. By 3400 BC, "proto-literate" cuneiform spread in

12426-421: Was evolving into Hinduism , which spread throughout Southeast Asia. Siddhartha Gautama , born around 560 BC in northern India, went on to found a new religion based on his ascetic life – Buddhism . This faith also spread throughout Eastern and Southeastern Asia after his death. This period also saw the composition of the epics Ramayana and Mahabharata . The kingdom of Magadha rose to prominence under

12540-664: Was expanded to include four-year programs. It was also renamed Puntland State University (PSU). Degrees offered at PSU include: The school is participating in the Puntland Resource and Service Center, which began construction in January 2007 in Garowe. Puntland State University has entered into a sister institution relationship with the Minneapolis Community and Technical College (MCTC) based in Minneapolis , Minnesota in

12654-516: Was located in the Niger River Valley in the country of Mali and is considered to be among the oldest urbanized centers and the best-known archaeology site in sub-Saharan Africa . This archaeological site is located about 3 kilometers (1.9 miles) away from the modern town and is believed to have been involved in long-distance trade and possibly the domestication of African rice. The site is believed to exceed 33 hectares (82 acres); however, this

12768-502: Was ruled by the Seleucid dynasty . Parthia was an Iranian civilisation situated in the northeastern part of modern Iran. Their power was based on a combination of military power based on heavy cavalry with a decentralised governing structure based on a federated system . The Parthian Empire was led by the Arsacid dynasty , which by around 155 BC under Mithradates I had mostly conquered

12882-658: Was sacked, ending the Hittite Empire . Israel and Judah were related Iron Age kingdoms of the ancient Levant and had existed during the Iron Ages and the Neo-Babylonian, Persian and Hellenistic periods. The name Israel first appears in the stele of the Egyptian pharaoh Merneptah around 1209 BC. This "Israel" was a cultural and probably political entity of the central highlands, well enough established to be perceived by

12996-623: Was the main language of diplomacy in the Near East. Assyria was originally a region on the Upper Tigris , where a small state was created in the 19th century BC. The capital was at Assur , which gave the state its name. Later, as a nation and empire that came to control all of the Fertile Crescent, Egypt and much of Anatolia , the term "Assyria proper" referred to roughly the northern half of Mesopotamia (the southern half being Babylonia), with Nineveh as its capital. The Assyrian kings controlled

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