Accounting and Civilisation

This write-up tries to show the linkage between accounting and civilization. The study starts by showing how accounting evolves from the pre-pacioli era where accounting was seen as an activity. Pacioli era was then the next, which runs through the industrial revolution, in which accounting was seen as a discipline. The two eras where seen to be drivers of civilization through its contributive accounting factors that gave impetus to it. The formation of joint companies paved way for reactors to civilization. Although this couldn’t have been possible without a philosophical approach of normative accounting and later on, positive accounting due to paradigm shift. For accounting to continue to be proactive to civilization, it must among others, be that accounting research needs to take back control of time by bringing future to present through issuing standards that focus on discovery and independent observation of events.