Gud day fellow accountants in the making (all ready made accountants too are welcomed), Its nice to have u all here...








This thread is strictly for us to develop ourselves ,share knowledge, help with assignments....let's get together and make our future profession the best in Nigeria....graduates can give us study tips and the ryt ways we should go...
for aspiring students, ur all also welcomed to learn more....








It doesn't matter what institution ur in....feel free to share ideas with us...every one is welcomed .

greetings to all. am a business education student (accounting option).

omotroyz:
greetings to all.
am a business education student (accounting option).

ur welcom on board ....how was yah day?.

Gus day accountants,accountants in the making and aspirants....

Today am gono give ah brief lecture on accounting.(introduction dough)...

INTRODUCTION TO ACCOUNTING...

1.0. HISTORICAL BACKGROUND

1.1. DEFINITION OF ACCOUNTING.

1.2. TYPES OF ACCOUNTING

1.3. THE IMPORTANCE OF ACCOUNTING

1.0. HISTORICAL BACKGROUND




Accounting can be traced back to the beginning of creation when God himself laid a perfect example by giving account for all that he created. for each day of the six days of his creation, He put together His supernatural/divine resources to create a number of items and at the end of the work for each day ,He took stock.
The bible records that 'and God saw that it was good ' The verb saw suggests description, reporting or accounting for what would happen .."it was gud" brings in the aspect of analysis of the result which could be favorable or unfavorable...,but in this case it was favorable.


in the same vein ,every organization, whether profit making or nonprofit making, is expected to have records of the transaction which the organization will be involved in and the persons in-charge render the report of their stewardship at a set time.This transaction could be referring to the day to day activities of personnel in organization, the record of which are usually kept by the business or public administrators. Record in such a case are kept and communicated in monetary terms and accounts are responsible for keeping such records.Accounting is therefore a means of communication which are in monetary terms..

Accounting is a dynamic subject which has experienced changes in its techniques over the years

in the early days of accounting, emphasis was more on stewardship accounting... As time went on ,it became obvious that accounting should serve as a guide and a control measure with more emphasis now on analysis, forecasting and interpretation of records in the conducts of business activities, and of course ,the routine work of recording cumbersome figures manually has in recent times paved way for the use of computer especially in larger business organizations

ma concluding post on the history of accounting was removed for reasons ah donno...so am just gona summerize....Italians where the first to systematically keep records of account during the 14th-15th centuries..

in 1494, sir Lucas Pacioli a french mathematician published a book which also had a section which deals with methods of Book keeping and accounts...his referred to as the father of accounting.

in the 17th and 18th century, the domestic system was introduced and practiced by the United Kingdom

banks and other specialized business came up during the 19th century. consolidating Acts was enacted to rule the affairs of consolidated companies in this period.. legislation was also introduced about this period to oversee the affairs of the specialized companies like banks.the need for independent Audit of companies came up towards the close of this period.. independent Audit ,however, became a statutory requirement for companies by 1990.

1.1 DEFINITION OF ACCOUNTING.

Accounting can be defined as the process of identifying, measuring and communicating economic information to permit informed judgment by the users of such information .

1.2 TYPES OF ACCOUNTING

The Main types of accounting
are as follows:
1. Financial
2. Management
3. Governmental
4. social
5. Forensic
6. Project
7. tax

But the types of accounting we shall learn later on are financial accounting and management accounting, and the type of management accounting we shall treat is cost accounting...


as we advance in lectures we shall treat both financial and cost accounting.....

Contact me for ur project materials soft copies on 08160215789

following, keep it coming