Ifrs diploma study material free download pdf

#IFRS DIPLOMA STUDY MATERIAL FREE DOWNLOAD PDF PROFESSIONAL#

Etymology Д«oth the words accounting and accountancy were in use in Great Britain by the mid-1800s, and are derived from the words accompting and accountantship used in the 18th century.

#IFRS DIPLOMA STUDY MATERIAL FREE DOWNLOAD PDF PROFESSIONAL#

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. The first published work on a double-entry bookkeeping system was the Summa de arithmetica, published in Italy in 1494 by Luca Pacioli (the 'Father of Accounting'). With the development of joint-stock companies, accounting split into financial accounting and management accounting. Дouble-entry bookkeeping was pioneered in the Jewish community of the early-medieval Middle East and was further refined in medieval Europe. By the time of Emperor Augustus, the Roman government had access to detailed financial information. The early development of accounting dates back to ancient Mesopotamia, and 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. Portrait of Luca Pacioli, painted by Jacopo de' Barbari, 1495, ( Museo di Capodimonte).ДЄccounting is thousands of years old and can be traced to ancient civilizations. As of 2012, 'all major economies' have plans to converge towards or adopt the International Financial Reporting Standards (IFRS). GAAP is set by various standard-setting organizations such as the Financial Accounting Standards Board (FASB) in the United States and the Financial Reporting Council in the United Kingdom. Financial statements are usually audited by accounting firms, and are prepared in accordance with generally accepted accounting principles (GAAP). Today, accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies. The double-entry accounting system in use today was developed in medieval Europe, particularly in Venice, and is usually attributed to the Italian mathematician and Franciscan friar Luca Pacioli. ДЄccounting has existed in various forms and levels of sophistication throughout human history. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system. Financial accounting focuses on 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 and management accounting focuses on the measurement, analysis and reporting of information for internal use by management. Accounting information systems are designed to support accounting functions and related activities. The terms 'accounting' and ' financial reporting' are often used as synonyms.ДЄccounting can be divided into several fields including financial accounting, management accounting, external auditing, tax accounting and cost accounting. Practitioners of accounting are known as accountants.

Accounting, which has been called the 'language of business', measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators. Accounting or accountancy is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations.

Ifrs diploma study material free download pdf