Although accounting has developed a lot over the last few centuries, many of the principles used now date back to the fifteenth century when the double-entry method of accounting was first introduced. Accounting is a necessary part of every type of business and has been used in different ways over the centuries.
Mesopotamia and Egypt
In ancient Mesopotamia, around the year 2000 BC, a form of accounting was also used. A Mesopotamian Scribe used clay to form a way of writing contracts and holding people accountable for their debts.
In ancient Egypt a form of accounting was also used. Although the double-entry system was not yet designed, Egyptians kept precise records of all of their business dealings.
