Accounting 1st Paper Question 2018 Dhaka, Dinajpur, Jashore, Sylhet, Board

Accounting 1st Paper Question 2018 Dhaka, Dinajpur, Jashore, Sylhet, Board. Accounting or accounting is the production of information about a company and the transmission of such information to those who have with those who need it. Communication is generally in the form of financial statements that present in monetary terms the economic resources under the control of the management, the art lies in the selection of relevant information for the user and is a faithful image. The accounting principles are applied to commercial entities in three divisions of artistic practice, the name of the accounting, accounting, and audit.

Accounting 1st Paper Question 2018 Dhaka, Dinajpur, Jashore, Sylhet, Board

The history of accounting is thousands of years old and can be traced to ancient civilizations. 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. By the time of Emperor Augustus, the Roman government had access to detailed financial information.

Double-entry bookkeeping was pioneered in the Jewish community of the early-medieval Middle East and was further refined in medieval Europe. With the development of joint-stock companies, accounting split into financial accounting and management accounting.

The first work on a double-entry bookkeeping system was published in Italy, by Luca Pacioli (“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 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 account, which was derived from the Old French word counter, which is in turn related to the Vulgar Latin word computer, meaning “to reckon”.

The word “accountant” is derived from the French word compter, which is also derived from the Italian and Latin word computer. The word was formerly written in English as “accompany”, 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.

Financial accounting focuses on 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).[8] GAAP, in turn, arises from the wide agreement between accounting theory and practice, and change over time to meet the needs of decision-makers.

This branch of accounting is also studied as part of the board exams for qualifying as an actuary. 

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