What grammar is to English composition, accounting is to business. There is much more to accounting than bookkeeping. Accounting is much more than procedures. It is a process that begins and ends with decision making. Accounting is such an important function of a successful business because it provides vital information that enables managers in production, marketing, and personnel to make informed decisions.
Some scholars claim that writing arose in order to record accounting information.
Indeed, accounting records date back to the ancient civilizations of China, Babylonia, Greece, and Egypt. The rulers of these civilizations used accounting to keep track of the costs of labor and materials used in building structures such as the great pyramids. The need for accounting has existed as long as there has been business activity. In the nineteenth century, the growth of corporations spurred the development of accounting. With records and an accounting system, managers could report this information to the owners.