WRITTEN ROOTS OF ACCOUNTING IN THE ANCIENT WORLD

Modern societies are tributary to ancient civilizations for giving them the most important asset in accounting, namely writing. Without this groundbreaking invention, accounting could not have been practiced as it is mandatory to ensure a consistency between facts and recordings. Numerous archeological discoveries support the idea that accounting practices were invaluable in ancient times for several reasons, ranging from registering state and private wealth to obtaining high positions in the state hierarchy. This paper draws on such motives. Starting from the Mesopotamian civilization, the paper presents a brief historical synthesis of the Egyptian and Hindu accounting principles so as to highlight the importance of accounting for the societies’ economic development