1. Definition of Accounting
These concepts originate from the merchants of the Italian City States. Glautier & Underdown (1991) point out that the main principles of the Italian Method were set out by Luca Pacioli in his famous work Summa de Arithmetica, Geometrica, Proportioni et Proportionalita which was published in Venice in 1494. ... Other important parts of financial accounting are the report of the directors, notes relating to the accounts, auditor's report, notice of the annual general meeting etc. ...
- Word Count: 1977
- Approx Pages: 8
- Grade Level: Undergraduate